Wall Street Performance

Wall Street's major indexes closed in the plus on Monday. The Dow Jones Industrial Average and the Nasdaq Composite posted gains for the third consecutive day thanks to an increase in the share prices of a number of leading technology companies, known as the "Magnificent Seven". Nevertheless, trading activity was subdued due to the holiday season.

Market Outlook

After strong gains since the November presidential election, Wall Street has seen a slowdown this month due to a revised outlook by the U.S. Federal Reserve, which now expects only two 25 basis point rate cuts in 2025 instead of four as previously estimated.