Beat the street: Christmas equity melt-up continues; US housing; Boeing; Plug Power; FedEx

Boeing shares jump on a Lufthansa purchase. Plug Power shares slump on a downgrade. FedEx reports later.

(AI Video Summary)

US stocks rise amidst expected interest rates drop

In today's episode of "Beat the street," Angeline Ong talks about different financial news and updates. She starts by mentioning that US stocks have recently gone up because people expect interest rates to go down. She also talks about something called a "Christmas melt-up," which means that stocks might continue to rise during the holiday season.

Ong then talks about FedEx, a shipping company, and how they are expected to announce higher profits. She also mentions some upcoming data about housing stocks, consumer confidence, GDP, and PCE numbers in the US - information about how the economy is doing and what people are spending their money on.

S&P 500 close to its highest point ever

Next, Ong gives an update on the Dow Jones, which is a stock market index. She explains that the building data for November was as expected and slightly better for housing stocks. She also says that the S&P 500, another stock market index, is very close to reaching its highest point ever. This is because traders think interest rates might be lowered next year.

Reserve Bank of Australia and Bank of Canada updates

Moving on, Ong talks about the Reserve Bank of Australia and their recent minutes. The bank is trying to figure out how to balance different economic factors. She explains that Australia's economy didn't grow much in the last quarter, exports have been going down, and people have been spending less. The bank is considering raising interest rates, but it's not very likely.

Ong then mentions some data about Canada's inflation. The headline inflation rate is expected to rise, but the core inflation rate is predicted to drop to its lowest point in two and a half years. The Bank of Canada thinks they might lower interest rates next year if core inflation goes down like they expect.

Cevian takes stake in UBS

In terms of corporate news, Ong tells us that an investor group called Cevian Capital thinks a bank called UBS could become twice as valuable in the next few years. She also says that Apple will stop selling its smartwatches because of a legal issue. Ong gives updates on other companies like Plug Power and Boeing, and she mentions that FedEx will release its financial results later that day.

Lastly, Ong talks about gold prices. Right now, gold costs about $2,029 per ounce and it's staying steady. But if it goes above $2,100 per ounce, it could go up even more. She finishes by saying that Wall Street is slowly going up because investors think interest rates might be cut early next year.