Bloomberg Daybreak: US Edition Stocks Rally Into Christmas Break; Biden to Decide US Steel Fate
Dec 24, 2024
This discussion dives into the recent rally in European stocks sparked by the U.S. tech sector's upswing. It sheds light on President Biden's looming decision regarding the acquisition of U.S. Steel, highlighting national security concerns. Additionally, recent developments in the stock market, including Honda's buyback plan and Nordstrom's privatization, are analyzed. Cybersecurity threats and their implications for teams are also addressed, alongside a recap of exciting moments in the NFL, NBA, and NHL.
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Mega-Cap Influence
- The Magnificent Seven stocks drove market gains, a recurring pattern.
- These mega-cap stocks significantly contributed to the S&P 500's 25% rise this year.
Tech in 2025
- Gene Munster predicts a positive outlook for big tech in 2025 despite potential market volatility.
- He anticipates pullbacks, similar to historical trends, but expects the Nasdaq to finish higher.
Honda's Stock Surge
- Honda's shares surged 12% in Asia following a $7 billion stock buyback announcement.
- This news offsets concerns about Honda's acquisition of rival Nissan.