US stocks fell across the board on December 27, with the Dow Jones losing 333.59 points, the S&P 500 falling 1.11% and the Nasdaq Composite plunging 1.49%. Gold prices fell slightly, while Brent and WTI crude oil rose 1.4% thanks to holiday demand and a drop in US crude oil reserves.
At the close of the financial economic news on December 27, the Dow Jones index fell 0.77% to 42,992.21 points, marking the first decline after a series of 6 consecutive sessions of increase. The S&P 500 index also fell 1.11% to end at 5,970.84 points. Meanwhile, the Nasdaq Composite plunged 1.49% to 19,722.03 points.
The Dow Jones Industrial Average rose 0.4% for the week, snapping a three-week losing streak. The S&P 500 also rose 0.7% after posting its best Christmas trading day since 1974 on December 24. The Nasdaq Composite also closed the week up nearly 0.8%.
In the financial and economic news last week, the rise in US government bond yields may have put significant pressure on the stock market. The yield on the 10-year government bond increased by more than 4 basis points on December 27, reaching 4.627%, after hitting its highest peak since May 2024 in the previous session.
In the precious metals market, spot gold prices fell 0.7% to 2,615.99 USD/ounce, while gold futures lost 0.8%, stopping at 2,633.5 USD/ounce at the end of the session on December 27.
In contrast, the energy market recorded growth as Brent crude oil futures edged up 1.2% to $74.17/barrel, and WTI crude oil rose 1.4% to $70.6/barrel. For the week, both Brent and WTI crude oil increased 1.4%.
A report from the US Energy Information Administration on December 27 showed that US crude oil inventories fell by 4.2 million barrels in the week ending December 20. The reason is that refineries increased their operating capacity while the holiday season boosted fuel consumption.
The decline was much lower than the 1.9 million barrel drop forecast by analysts polled by Reuters and also lower than the 3.2 million barrel drop forecast by the American Petroleum Institute (API). Stay tuned! HVA to update and grasp the fastest information about the financial market every day.
