Daily Stock Market News Dec. 19, 2016: The market was fairly flat today, as investors awaited the results of the Elector College votes across the country. As expected, the electors affirmed the election results this afternoon, after the stock market closed. See today’s economic news and closing numbers.
U.S. Stock Market Closing Prices Dec. 19, 2016:
Dow Jones Industrial Averages: 19,883.06 +39.65 (+0.20 percent)
S & P 500: 2,262.53 +4.46 (+0.20 percent)
NASDAQ: 5,457.44 +20.28 (+0.37 percent
Crude Oil: $53.06 a barrel
Current Stock Market Trending Topics:
Today, members of the Electoral College met in state capitals across the U.S. to officially affirm the results of the 2016 presidential election.
As 2016 draws to an end, the Obama administration is also ending their eight years with 75 months of steady job growth, low inflation, increasing sales, rising incomes, strong consumer sentiment and overall positive economic news. Investors are looking towards the Trump administration to see if the trend will continue, accelerate or reverse direction in 2017 and the following years. This morning, home building stock was doing particularly well. Lennar revenue rose 14.6 percent.
China is preparing for slower growth in 2017. As a major importer and exporter, their slowdown will undoubtedly have an effect around the world.
With sanctions lifted against Iran, as they continue to export oil at a slightly increased level (part of the recent oil production caps agreement), they could become a major player in the world economy, especially if the production caps cause prices to rise.
Disney stock is also doing well today, after the release of Rogue One.
The Economic Events Which Will Affect the Stock Market in December:
- December 2 – Employment Situation Report for Nov., 2016 – The U.S. economy added 178,000 jobs in November and unemployment dropped from 4.9 percent to 4.6 percent. This is the lowest rates since August 2007. November was the 74th consecutive month American added jobs. Wages also rose 2.5 percent.
- December 13 and 14 – Meeting of the Federal Reserve. They raised their benchmark interest rate by .25 percentage points. This was the second time this year, and only the second time in the past ten years, that interest rates have risen. The Federal Reserve indicated that consumers should expect interest rates to rise three more times in 2017.
- December 26 – Stock Market closed because of the Christmas holiday
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