On December 10th, U.S. stocks closed the session with all three major indexes registering losses. The S&P 500 fell by 0.30% ending at 6,034.91 points, the Dow Jones decreased by 0.35% to 44,247.83 points, and the Nasdaq saw a drop of 0.25% closing at 19,687.24 points. Investors were keeping a close eye on key upcoming economic data which could influence the Federal Reserve's interest rate decisions.
In specific stock movements, Roadzen surged by 57.58%, Chimerix made significant gains of 219.08%, and uniQure rose 109.73%. On the downside, TScan Therapeutics tumbled by 28.23%, Smart Charging fell 21.17%, and Esperion declined by 20.63%.
In terms of market events, Google witnessed a gain of over 5%, reaching its highest level since July following the announcement of developments regarding its quantum chip, "Willow". Meanwhile, Oracle experienced a substantial 10% decline amid mixed earnings forecasts, marking its steepest drop since early December 2023. Tesla shares rose more than 3%, bolstered by rating upgrades from analysts at Morgan Stanley and Cantor Fitzgerald.
On the regulatory front, European bodies have requested additional details from Google concerning its discontinued advertising deal with Meta Platforms, a collaboration that allegedly bypassed Google's stipulations regarding the online treatment of minors.
Additionally, the U.S. Department of Commerce finalized over $6.1 billion in subsidies for Micron Technology aimed at bolstering its domestic semiconductor manufacturing facilities.
Chinese stocks listed in the U.S. showed a mixed performance, with the Nasdaq Golden Dragon China Index declining by over 4%. Bilibili saw a significant drop of more than 10%, as did leading car manufacturers Xpeng, Li Auto, and internet company Iqiyi.
Market sentiment continues to be driven by anticipation of the U.S. Consumer Price Index (CPI) report scheduled for release, with investors seeking clues on the Federal Reserve’s interest rate trajectory. Analysts aver that a CPI reading in alignment with expectations may not hinder ongoing easing policies, but any stagnation could reduce the probability of additional rate cuts by the central bank.