FX.co ★ US Stocks Lack Direction

On Tuesday, the three major US stock averages fluctuated near the flatline following the release of robust economic data. This information bolstered expectations that the Federal Reserve would maintain steady interest rates in January, while also sparking concerns that the economy's strength could dissuade the central bank from resuming interest rate cuts next year. A delayed report indicated that the US economy expanded at an annual rate of 4.3% in the third quarter, marking the fastest growth in two years. Additionally, the weekly ADP report revealed that the private sector added jobs for the third consecutive week in early December. In terms of sector performance, consumer staples and real estate lagged behind, whereas communication services and energy sectors outperformed. Among the megacap stocks, results were mixed: Nvidia and Microsoft both increased by 0.3%, Amazon rose by 1.1%, Meta edged up by 0.1%, and Alphabet gained 0.8%. Conversely, Apple and Broadcom each dipped by 0.1%, and Tesla fell by 0.5%. Eli Lilly shares saw a 1% increase, recovering from earlier losses after Novo Nordisk's weight-loss pill received approval from the US Food and Drug Administration.