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Here are the most important news investors need to start their trading day:
1. Sad December
The stock enters the final full trading week of 2024 on a tough stretch. The Dow Jones Industrial Average it has lost ground for seven consecutive sessions, and fell 1.8% last week. The S&P 500 it also decreased by 0.6% during the period. He was the only winner Nasdaq Compositewhich increased by 0.3% during the week. Investors are eyeing the Federal Reserve’s December interest rate decision on Wednesday. Policymakers are expected to cut the Fed’s benchmark rate by a quarter percent. Follow live market updates.
2. Bitcoin bonanza
Bitcoin play fresh disc As of Sunday afternoon, over $106,000. The cryptocurrency’s hard run pushed away from market expectations that the Fed would cut rates again this week. Bitcoin is now up 50% since the presidential election and 145% this year.
3. AI cash injection
Softbank CEO Masayoshi Son speaks to the press after meeting with U.S. President-elect Donald Trump at Trump Tower in Manhattan, New York, U.S., on December 6, 2016.
Brendan McDermid | Reuters
Softbank CEO Masayoshi Son will announce It plans to invest $100 billion in the U.S. over the next four years, sources familiar with the matter told CNBC’s Sara Eisen. The head of the Japanese tech investment firm will unveil the plans in a joint announcement with President-elect Donald Trump. Sone will commit to creating 100,000 jobs in AI and related infrastructure. Many businessmen, including Son, announced investments in coordination with Trump during his first term to benefit his administration.
4. GM’s growth gambits
GM’s Cruise robotaxi unit is its own The latest growth initiative to sputter. The automaker said last week it would wind down the segment’s operations, in another move to return to its core business. GM has poured more than $10 billion into Cruise since it bought the company in 2016, and executives at one point predicted it could bring in $50 billion in revenue by the end of the decade.
5. Order up
Close-up of McDonald’s Double Quarter Pounder Cheeseburger, San Ramon, California, on August 3, 2024.
Smith Collection | Gado | Photos from the archive | Getty Images
As consumers continued their spending spree following years of high inflation, the restaurant industry was divided into winners and losers this year. Like fast food chains McDonald’s and Wendy’s had a tough stretch, although bending offers helped increase traffic to restaurants. Yum Brands’ Taco Bell had a better year as diners felt they were getting better value for their money. Meanwhile, like fast-casual chains Cava and Wingstop he had strong years. Read more about the restaurant industry’s 2024 winners and losers here.
– CNBC’s Brian Evans, Jesse Pound, Tanaya Macheel, John Melloy, Michael Wayland and Amelia Lucas contributed to this report.
