Stocks were mostly lower this week after the Federal Reserve confirmed that it was planning fewer rate cuts in 2025. The market had priced in a slower pace of rate cuts, but the confirmation that the number of cuts would be less than expected gave investors a reason to take profits in an extended market.
Investors got some good news to end the week when the Personal Consumption Expenditure (PCE) index reading came in slightly cooler than expected. However, the report did nothing to contradict the Fed’s decision.
With most of the economic data in, investors will continue to look for direction in a holiday-shortened week. Markets will close at 1:00 p.m. EST on Christmas Eve and will be closed on Christmas Day. The MarketBeat team of analysts will still be keeping an eye out for signs of a Santa Claus rally and will be ready to point you to any opportunities that exist.
