On December 31, 2024, U.S. stock trading experienced a rocky week, with the markets ending lower despite a rise on Friday. The S&P 500’s Energy sector performed well, increasing over 3% for the week, while Europe’s Stoxx 600 index fell by 0.49%, affected by a decline in auto stocks, particularly Stellantis, which reported a steep drop in production. Boeing, struggling since its last annual profit in 2018 due to a series of crises, is now under new CEO Kelly Ortberg, who aims to boost production and maintain quality amidst ongoing challenges.
Foreign phone sales in China have plunged, with November figures showing a 47.4% decrease from the previous year, indicating difficulties for brands like Apple. Meanwhile, Microsoft has pledged $80 billion in fiscal 2025 for AI-focused data centers, predominantly in the U.S.
Despite Friday’s gains—the S&P 500 rose 1.26%—the overall weekly performance was negative, with significant losses in prior sessions. This year, the expected “Santa Claus Rally” did not materialize, leading to caution about potential market downturns ahead. Some analysts remain optimistic, with expectations of continued market growth driven by profit increases, projecting the S&P 500 to reach 6,600 by year’s end.
