Monday's Markets Update (January 8, 2024)

09 Jan 2024 by rate3

On Monday, Nasdaq and other stocks rose sharply led by tech shares and chip makers. Dow gained despite Boeing's 8% drop on 737 MAX 9 Jets issue. Oil giants fell as oil prices sank on Saudi output rise and price cuts. Investors await CPI data and big bank earnings reports. BTC rose more than 6% leading cryptocurrency gains, with ETH following with +4%.

Details

In November 2023, consumer credit in the US saw a significant increase of $23.7 billion, surpassing expectations of $9 billion and marking a significant growth from the previous month's $5.7 billion increase. This growth was driven by a $19.1 billion jump in revolving credit, such as credit card debt, which rose by 17.7% year-on-year. Non-revolving credit, including auto and student loans, also increased by $4.6 billion, or 1.5% compared to the previous month.