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Wall Street begins 2024 by breaking a nine-week bullish streak. The trend of US futures

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Wall Street begins 2024 by breaking a nine-week bullish streak.  The trend of US futures

On Wall Street, futures on the main US stock indices are falling: at around 6.45am Italian time, futures on the Nasdaq fell by 0.11%, while those on the S&P 500 fell by 0.09%. Dow Jones futures lost 0.36%.

Last Friday, the S&P 500 rose by 0.18% to 4,697.24 points, while the Nasdaq Composite rose by 0.09% to 14,524.07 points.

The Dow Jones Industrial Average ended the session with an increase of 25.77 points or +0.07%, to 37,466.11 points.

Wall Street has just returned from the first negative week of the last ten: the Nasdaq suffered the strongest loss on a weekly basis, losing 3.25%, suffering its worst weekly performance since September.

The S&P 500 and the Dow Jones fell by 1.52% and 0.59% respectively.

The increases were held back by fears that the Fed led by Chairman Jerome Powell could postpone the start of the rate cuts that traders are betting on for 2024.

Last Friday the US employment report highlighted that, in the month of December, the US economy created 216,000 new jobs, more than the 170,000 jobs expected by economists interviewed by Dow Jones.

The unemployment rate remained unchanged in December at 3.7%, confirming the solidity of the US labor market.

The data pushed up 10-year Treasury yields, which jumped to an intraday record of 4.103% last Friday.

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