European Residential Real Estate Investment Trust finalizes major asset sales
- US retail sales rose 0.7 percent in November 2024, exceeding expectations.
- Despite positive retail data, major stock indices declined, indicating market apprehension.
- The Federal Reserve's upcoming interest rate decision is crucial for future market trends and investor sentiment.
On December 17, 2024, Wall Street stocks experienced a retreat, despite positive retail sales data from the United States. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index all faced declines, with the Dow falling for its ninth consecutive session. Analysts noted a rise in retail sales of 0.7 percent in November, surpassing expectations, which they attributed partly to the resolution of the US presidential election. Investors are awaiting a Federal Reserve interest rate decision, anticipated to occur on December 18. Market sentiment appears cautious as traders look for guidance on future monetary policy, particularly regarding additional interest rate cuts expected in 2025. Companies such as Pfizer and eBay experienced stock movements, with Pfizer's shares rising due to a positive profit forecast for 2025. Overall, despite the positive retail sales figures, uncertainty surrounding the Federal Reserve's future actions has caused market indices to pull back.