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Here’s what’s happening in the stock market today:
US stock futures are holding steady to slightly lower today amid holiday-thinning volumes and anticipation for key economic data releases like GDP and durable goods orders. Major indexes remain near recent highs following a multi-day rally, with investors balancing year-end optimism against upcoming holiday market closures. Precious metals like gold continue pushing record highs, reflecting safe-haven demand.
Major Indices 📊
S&P 500 futures little changed, index within 0.3% of all-time high after three-day gains.
Dow Jones futures slightly down ~0.1-0.2%, just 0.7% from record close.
Nasdaq futures flat to lower, buoyed by tech resilience despite volatility.
Market Movers 🚀
Novo Nordisk surges 7%+ on FDA approval for oral Wegovy pill, boosting European shares to records.
Huntington Ingalls Industries rallies on reports of Trump administration plans for new battleships.
Gold and silver hit fresh highs for second day, while 10-year Treasury yield steady at ~4.16%.
Key Events 🗞️
Holiday-shortened week features early close Wednesday (Dec 24) and full closure Thursday (Dec 25), with thin volumes expected. US data today includes Q3 GDP (est. 3.2%), October durable goods (est. 0.5%), and December consumer confidence. Focus lingers on Fed rate cut path amid steady inflation signals.
Investor Sentiment 👀
Cautious positivity prevails as "Santa Claus rally" hopes mix with data watch; world stocks rally on festive cheer, yen gains on FX intervention talk. Political fiscal risks like prior shutdown concerns fade into background.
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Wall Street Highlights:
News Beyond the Numbers
TD Cowen upgraded AME to buy, citing the industrial firm's strong performance in both growth and utility markets amid improving conditions. Read more.
Piper Sandler upgraded I Investments to overweight, forecasting significant margin expansion from recent sales wins totaling millions. Read more.
Evercore ISI downgraded Coty to in-line from outperform due to leadership changes and challenges in its consumer division. Read more.
Canaccord reiterated its buy rating on Tesla and raised the price target ahead of the Q4 delivery report, emphasizing long-term demand potential. Read more.
Alphabet plans to acquire additional data center capacity to accelerate AI infrastructure, boosting shares for both Alphabet and NVIDIA. Read more.
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