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Winter's Dawn: Celebrating the Solstice

The Winter Solstice, which occurred on December 21st, marks the shortest day and longest night of the year, signaling the official start of winter. Mary Walrath-Holdridge and Julia Gomez from USA TODAY explore the significance of this astronomical event and how it is celebrated across different cultures. The solstice, occurring when the North Pole is tilted furthest away from the sun, brings the least amount of daylight and the longest night. This year, the solstice fell on December 21st at 4:21 a.m. EST, marking the astronomical beginning of winter in the Northern Hemisphere. Historically, the Winter Solstice has been a time of celebration and reflection. Ancient civilizations, such as the Romans with their Saturnalia festival and the Norsemen with their bonfires, honored the return of the sun and the promise of longer days ahead. Today, people continue to observe the solstice with various traditions, including gatherings, feasts, and rituals that pay homage to the natural cycles of l...
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Stock Market Update: S&P 500 and Nasdaq Futures Rise Ahead of Fed Minutes and Jobs Review

 

US stocks are poised for small gains today after snapping their longest win streak this year. Investors are closely watching the Federal Reserve minutes and jobs data, which are likely to shape bets for interest-rate cuts.

  • S&P 500 Futures (ES=F): Up roughly 0.2% after closing slightly lower to end an eight-day winning streak.
  • Dow Jones Industrial Average Futures (YM=F) and Nasdaq 100 Futures (NQ=F): Both up about 0.2%.

Key Points:

  1. Labor Market Focus: Investors are eyeing a return to recovery from an early August sell-off, with focus intensifying on the labor market as a factor in the Fed’s policy-making. Inflation seems to be subsiding.
  2. Earnings Reports: Target (TGT) and Macy’s (M) quarterly reports shed light on the retail sector and consumer sentiment.
    • Target shares jumped after beating Wall Street targets.
    • Macy’s shares sank after posting a sales drop.
  3. Jackson Hole Symposium: Investors are treading cautiously ahead of Jerome Powell’s appearance at the Jackson Hole symposium on Friday. Expectations for a September rate cut are high.
  4. Labor Data Revisions: The market is bracing for preliminary revisions to labor data for the year through March. Goldman Sachs expects significant downward moves in previously reported payrolls growth.
  5. Fed Minutes: The minutes from the Fed’s July meeting will be scrutinized for insight into the likelihood and magnitude of a rate cut next month.

Keep an eye on the markets as we await further developments!

 

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