Top Market Indexes Pullback on China's Nvidia Investigation

## Major Index Performance- **S&P 500**: As of midday trading on December 9, 2024, the S&P 500 fell by 0.5% from its 57th all-time high of the year, closing the previous day at a record high of 6,090.27[1][4].- **Dow Jones Industrial Average**: Down 108 points, or 0.2%, as of 11:15 a.m. Eastern time, after closing the previous day at 44,642.52[1][4].- **NASDAQ Composite**: Pulled back 0.7% from its own record, after closing the previous day at 19,859.77[1][4].## Key Factors Driving Today's Market Direction- **Nvidia's Drop**: A 3.4% drop in Nvidia's stock, driven by China's investigation into suspected violations of Chinese anti-monopoly laws, significantly weighed on the S&P 500 and NASDAQ[4].- **Previous Day's Gains**: The S&P 500 and NASDAQ reached new record highs on Friday, supported by stronger-than-expected November jobs data[1].## Notable Sector Performance- **Top Gainers and Decliners**: No specific sector performance details available for today, but previously, Consumer Discretionary was the top gainer, up 13.24% in November, while Health Care was the worst performer, up only 0.13%[3].## Market Highlights- **Most Actively Traded Stocks**: Nvidia was among the most actively traded due to the investigation by China[4].- **Biggest Percentage Gainers and Losers**: Nvidia was the biggest loser, down 3.4%[4].- **Significant Market-Moving News Events**: China's investigation into Nvidia over anti-monopoly laws[4].## Technical Analysis- **Current Market Trend**: Overall momentum is bullish for the S&P 500 and Dow Jones, but today's movement indicates a bearish reaction[2].- **Key Support and Resistance Levels**: - **S&P 500**: Pivot at 6,009.00, 1st support at 5,867.40, and 1st resistance at 6,164.45[2]. - **Dow Jones**: Pivot at 44,327.75, 1st support at 43,308.85[2].- **Trading Volume Analysis**: No specific details available for today.- **VIX Movement and Implications**: No specific details available for today.## Forward-Looking Elements- **Pre-market Futures Indication**: Not available in the provided sources.- **Key Events to Watch for Tomorrow**: No specific events mentioned for tomorrow.- **Important Upcoming Earnings Releases**: No specific releases mentioned.- **Potential Market Catalysts**: The Federal Reserve meeting on December 17-18, 2024, where a 0.25% rate cut is anticipated with a 66% probability[3].This content was created in partnership and with the help of Artificial Intelligence AI