Stock Market Today: Dow, S&P 500, Nasdaq Futures Tick Higher as Wall Street Attempts a Comeback
Dow, S&P 500, and Nasdaq futures edged higher as Wall Street aims for a rebound after recent volatility. Investors track economic data, earnings signals, and Federal Reserve cues as markets attempt a comeback.
Wall Street indices inch higher in premarket trading as Dow, S&P 500, and Nasdaq futures signal a possible market rebound.
On Tuesday, US stock futures were up just a little bit as the markets tried to recover after a very shaky December start that had a very negative impact on the major indices and cryptocurrencies.
The S&P 500 futures increased by 0.3%, and the Nasdaq 100 futures climbed by about 0.4%. The Dow Jones Industrial Average futures stayed slightly above the flatline, which indicated that there was cautious optimism in the market at the opening.
The Monday selloff ended the five-day winning streaks of all three major US indices and revived the discussion about the Santa Claus rally's (which is a common end-of-the-year trend) probability.
Bitcoin Rebounds After Steep Fall
After suffering its worst trading day since March, bitcoin bounced back on Tuesday, climbing more than 1.5% to trade above $87,000. The recovery comes after the cryptocurrency plunged to $84,000 on Monday amid concerns over a potential rate hike from Japan’s central bank and a DeFi platform hack.
Other cryptos also stabilized, with XRP rising and ether slipping slightly. Shares of crypto-linked companies Coinbase, Robinhood, and MicroStrategy also gained in premarket trade.
Investors Eye Catalysts for Year-End Rally
Market sentiment remains mixed as investors weigh persistent inflation, stretched equity valuations, and uncertainty around big tech’s aggressive AI spending.
Economic data continues to trickle in following earlier government reporting delays, with investors analyzing whether conditions support expectations for a December Federal Reserve interest rate cut. Markets are pricing in an 87% probability of a rate cut at the Fed's Dec. 10 meeting, sharply higher than expectations just weeks earlier.
No major economic releases are scheduled for Tuesday, with attention turning to a key consumer inflation report due later this week.
Earnings and Corporate Moves
Marvell Technology will report quarterly earnings after market close. The stock rose in premarket trade following a report that the company is in advanced talks to acquire chip start-up Celestial AI in a multibillion-dollar deal.
CrowdStrike and Okta are also on today’s earnings docket.
In other developments:
- Snowflake gained 4% ahead of earnings, extending its strong performance this year.
- MongoDB surged after reporting better-than-expected revenue, driven by strong growth in its Atlas service.
- Bank of America said its wealth management clients may allocate up to 4% of their portfolios to crypto, and will begin coverage of several bitcoin ETFs from January.
- Billionaires Michael and Susan Dell pledged $6.25 billion to support President Trump’s upcoming “Trump Accounts” investment program for children — one of the largest private contributions to US families in decades.
