Stocks Fall as Megacap Technology Stocks Slide and Metals Plunge

Market Overview - The S&P 500 Index is down -0.24%, the Dow Jones Industrials Index is down -0.09%, and the Nasdaq 100 Index is down -0.24% [1] - Stock indexes are declining, primarily due to losses in megacap technology stocks and a drop in metals prices affecting mining stocks [2] Economic Indicators - November pending home sales increased by 3.3% month-over-month, surpassing expectations of 0.9% [3] - The December Dallas Fed manufacturing outlook unexpectedly fell by -0.5 to -10.9, contrary to expectations of an increase to -6.0 [3] Commodity Market - Silver and platinum prices fell sharply due to profit-taking after reaching record highs, with technical selling triggered by overbought conditions [4] - Crude oil prices rose by more than +2%, supported by geopolitical tensions and China's commitment to increase fiscal spending to stimulate economic growth [5] Seasonal Trends - Historical data indicates that the S&P 500 has risen 75% of the time in the last two weeks of December, with an average increase of 1.3% [6] Upcoming Economic Events - Market focus will be on upcoming US economic news, including expected increases in pending home sales and the December MNI Chicago PMI [7] - Initial weekly unemployment claims are projected to rise by 1,000 to 215,000, while the December S&P manufacturing PMI is expected to remain at 51.8 [7]