US stocks were mixed in the last trading session. Oil prices also weakened after an estimated increase in oil demand in 2025 to 1.1 million barrels/day.
At the end of the trading session on December 16, the Nasdaq Composite Index increased by 1.24% to 20,173.89 points, while the S&P 500 Index increased by 0.38% to 6,074.08 points. On the other hand, the Dow Jones decreased by 0.25% to 43,717.48 points. This is the 8th consecutive decline of the Dow Jones, marking the longest decline since 2018.
The dollar index fluctuated around 106.49 points, while the yield on 10-year Treasury bonds rose to 4.3970%.
Spot gold futures edged up 0.2% to $2,654.27 an ounce, while gold futures edged down 0.2% to $2,670 an ounce.
Brent crude futures fell 0.8% to $73.91 a barrel, after closing at their highest level since November 22, 2024 on December 13. WTI crude futures fell 0.8% to $70.71 a barrel, after hitting their highest close since November 7, 2024.
The IEA raised its estimate for global oil demand in 2025 to 1.1 million barrels per day (bpd) from its previous forecast of 990,000 bpd. The increase is mainly due to the impact of recently announced stimulus measures in China.
In China, weaker-than-expected retail sales have put pressure on Beijing to step up stimulus measures for an economy that is weakening and facing trade tariffs under a second-term Donald Trump administration.
Oil prices were supported last week by expectations of tighter supplies due to additional sanctions targeting Russia and Iran, along with the prospect of interest rate cuts in the US and Europe that could stimulate energy demand.
The January 2025 silver contract stopped at $30,768/troy ounce, up 0.1% from the previous weekend session. The January 2025 platinum contract reached $941.8/troy ounce, up nearly 2% from the previous session. The copper contract price decreased by 0.1% from the previous session, to $4,151/pound. Let's follow HVA to update and grasp the fastest information about the financial market every day.
