Live Updates: US Stock Futures Waver as Nvidia Faces Pressure, Inflation Data in Focus
Follow live stock market trends as futures struggle, Nvidia faces a China investigation, and key inflation data influences the Federal Reserve’s decision.
US stock futures are off to a mixed start this week as investors focus on a critical inflation report that could influence the Federal Reserve’s final interest rate decision for the year. The Consumer Price Index (CPI), due midweek, will help clarify whether the Fed will move forward with a quarter-point rate cut in December.
The Dow Jones Industrial Average futures are treading water, following a losing streak last week. S&P 500 futures show little movement, while Nasdaq 100 futures are down 0.2%. Tech stocks are under pressure despite recent gains.
Nvidia, a key player in AI technology, is under scrutiny after China opened an anti-monopoly investigation into the company. This puts Nvidia in the center of ongoing tensions between the US and China over control of tech advancements.
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Also Read: US Stocks Slip as Traders Await Inflation Report Amid Global Uncertainty
Meanwhile, Chinese stocks listed in the US, such as Alibaba and XPeng, are climbing higher as Beijing signaled plans for its first major monetary easing in more than a decade. The Hang Seng Index in Hong Kong also saw a strong rally, driven by optimism around economic stimulus from China.
Geopolitical tensions, including the unexpected fall of Syrian President Bashar al-Assad, have not significantly impacted markets. However, gold prices have edged up slightly as investors turn to safe-haven assets amid global uncertainty.
With inflation data on the horizon and China’s economic policies in the spotlight, investors are navigating a volatile landscape. Follow the live blog for the latest updates on how these developments unfold.
Key Moments
- Stock futures struggle as inflation data looms.
- Nvidia drops amid China’s investigation.
- Chinese stocks jump on stimulus hopes.
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09 Dec 2024 01:40 PM
Consumer Confidence in Housing Market Grows Despite High CostsConsumer sentiment toward the housing market improved in November, signaling that people are becoming more comfortable with higher mortgage rates and home prices.
The Fannie Mae Home Purchase Sentiment Index edged up by 0.4 points to reach 75, marking a 16% improvement over the past year with a total gain of 10.7 points. In the survey, 45% of respondents predicted mortgage rates would decline within the next year, while 25% anticipated an increase.
The data comes from the National Housing Survey, which polled over 1,000 households between November 1 and November 19 to assess financial decision-making trends.
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09 Dec 2024 01:38 PM
Analyst Predicts S&P 500 Could Reach 7,100 by 2025
A market strategist has projected that the S&P 500 could hit 7,100 by the end of 2025, marking a 17% rise from its recent close. This is one of the boldest forecasts for the index’s growth in the coming years.
The prediction highlights key drivers such as stable economic policies, strong job creation, robust consumer spending, and steady business growth. These factors indicate that market conditions could support significant gains by 2025.
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09 Dec 2024 01:36 PM
Comcast Shares Drop After Warning of Significant Broadband Subscriber Loss
Comcast (CMCSA) stock fell as much as 7.5% on Monday following comments from Comcast Cable CEO Dave Watson, who revealed that the company expects to lose over 100,000 broadband subscribers in the fourth quarter.
This projection significantly exceeds Wall Street’s expectation of a decline of around 63,300 broadband users, as per Bloomberg’s consensus estimates.
The sharp midday drop marked Comcast's steepest intraday stock decline since April 25, reflecting investor concerns about the company’s ability to maintain its subscriber base.
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09 Dec 2024 11:34 AM
Chinese Stocks Jump as Beijing Promises Economic Support Measures
Chinese stocks traded in the U.S. surged on Monday after Beijing committed to introducing stronger fiscal policies to aid the economy. The announcement comes as China braces for potential trade and tariff challenges tied to the Trump administration.
Shares of Alibaba (BABA, 9988.HK) and XPeng (XPEV, 9868.HK) rose sharply, echoing gains in Hong Kong’s stock market.
The government’s pledge for a proactive approach to economic growth drove investor optimism. The Nasdaq Golden Dragon China Index (^HXC), tracking U.S.-listed Chinese companies, surged over 9%, marking a strong response to the policy shift.
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09 Dec 2024 11:07 AM
Stock Markets Fall as Nvidia Faces Antitrust Probe
U.S. stock markets declined on Monday, weighed down by losses in the chip sector. The Dow Jones Industrial Average (^DJI) slipped 0.2%, while both the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) fell 0.4%.
Nvidia (NVDA) dropped over 3% following news that China has launched an antitrust investigation into the company, raising concerns about its business operations in the region.
Advanced Micro Devices (AMD) also saw its shares decline after Bank of America downgraded the stock from Buy to Neutral. Analysts cited growing competition in the AI market, particularly against Nvidia’s specialized chips, as the reason for the downgrade.
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09 Dec 2024 11:06 AM
Tesla Hits 52-Week High as Stock Gains Momentum
Tesla’s (TSLA) stock rose by more than 2% on Monday, reaching a 52-week high of $404.80 per share. The electric vehicle giant has been on a winning streak, with its share price climbing over 50% since November 5.
Investors are optimistic about Tesla’s growth, with CEO Elon Musk’s ties to the Trump administration during that period seen as a contributing factor to the stock’s impressive rally. The company’s continued success highlights its strong position in the market and its appeal to investors.
