2024-12-07
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Hey listeners, it's Saturday, December 7th.
I'm Francesca Fontana for the Wall Street Journal, and this is What's News in Markets.
Our look at the biggest stock moves of the week and the news that drove them.
Let's get to it.
Welcome back and welcome to December.
So just to recap, the S&P 500 and the Dow both ended last week in records, and cap November as their best month of 2024.
So how did the market start December?
Well it seems like stocks really put their best foot forward in the first trading week of the month.
A big theme was the latest reads on the economy and what kind of interest rate decision we can expect ahead of the Fed's policy meeting next week.
Friday's jobs report showed that the labor market is still in pretty good health,
but not good enough to forego a rate cut.
Rate cuts are generally good for stocks, so as you may expect, the indexes mostly moved higher on that.
Earlier in the week, we saw some big crypto moves.
On Wednesday, President-elect Donald Trump picked Paul Atkins to run the Securities and Exchange Commission.
Atkins has questioned the SEC's crackdown on crypto firms and he's expected to ease oversight on those companies.