Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve's meeting

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Stock market today: Nasdaq hits a record as Wall Street drifts ahead of Federal Reserve's meeting

^{Published on 2024-12-17 14:21:08 - ABC}

U.S. stock indexes drifted through mixed trading ahead of a meeting by the Federal Reserve later this week that could set Wall Street's direction into next year

The article from ABC News discusses the recent performance of Asian stock markets following China's economic reports. Asian shares experienced a decline after China reported weaker-than-expected economic growth for the second quarter, with GDP growth at 4.7% year-on-year, falling short of the forecasted 5.1%. This slowdown was attributed to various factors including a property market slump, reduced consumer spending, and global economic uncertainties. Specifically, Hong Kong's Hang Seng Index dropped by 1.4%, while the Shanghai Composite Index saw a slight decrease of 0.3%. In contrast, Japan's Nikkei 225 edged up by 0.3%. The article also mentions that despite the disappointing figures, there are signs of stabilization in China's economy, with some sectors showing resilience. Additionally, the broader market sentiment was influenced by concerns over potential U.S. interest rate hikes, impacting global investment flows.

Read the Full ABC Article at:
[ https://abcnews.go.com/US/wireStory/stock-market-today-asian-shares-fall-china-reports-116817934 ]

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