The DOW JONES index fell 0.15% to 48,292.16 points. The pharmaceutical company Johnson&Johnson is the most bearish stock with a fall of 1.91%, while Amazon stands out on the positive side, with a rise of 0.83%.
The S&P 500 fell 0.01%, at 6,877.80 points, while the Nasdaq fell 0.02% to 23,424.13 points.
Wall Street is coming off a positive session yesterday, Monday: the DOW JONES rose 0.47%, while the S&P 500 added 0.64%, the third consecutive rise for both indices. He Nasdaq Composite rose 0.52%. Listed securities related to artificial intelligence were once again the driving force of advances, with special mention of NVIDIA given the information that points to the reactivation of its shipments to China.
«This market is still quite healthy. Valuations are not high enough at this level,» says Chris Harvey, head of equities and portfolio strategy at CIBC Capital Markets, speaking to the CNBC in which he dismisses fears that there could be a dot-com-like AI bubble. “We no longer see the effervescence of that time, and the commercial aspect is much better now than in the late 90s,” he points out.
Harvey further explains that unlike the internet investment boom of the late 1990s, the financial sector has driven the market higher in recent weeks as investors have rotated into cyclical sectors of the market. According to the expert, JPMorgan Chase shares have also outperformed a considerable portion of technology companies in the last three and five years.
A factor to take into account this week is the lower market activity due to the Christmas season. Tomorrow, Wednesday (Christmas Eve), the New York Stock Exchange will only close earlier than usual, while on Thursday (Christmas) it will be closed. Normality will return on Friday.
On the macroeconomic agenda of the day, the great reference of the day has been the publication of the GDP for the third quarterwhich has more than comfortably exceeded forecasts in what is the first known reading due to the closure of the US Government. The world’s largest economy grew 4.3%, according to Commerce Department figures, well above the 3.3% that economists had expected.. Personal consumption increased by 3.5%, after a reading of +2.5% in the second quarter.
The underlying Personal Consumption Expenditure Price Index or PCE rose 2.9% in the third quarter, after a variation of +2.6% in the second.
The report appears to have scared investors into believing that an interest rate cut by the Federal Reserve in early 2026 is less likely. In fact, following the report’s release, fed funds futures traders have slightly increased their bets that the central bank would keep rates steady at its January and March meetings, CME’s FedWatch tool showed.
They have also met durable goods orders, with a fall of 2.2% in Octoberafter the 0.7% increase in September, and industrial production, which fell 0.1% in October. The Conference Board’s consumer confidence index is also released throughout the morning.
In the business sphere, much of the interest continues to be focused on the battle between Netflix and Paramount to take over Warner Bros. Discovery. Warner’s board of directors has opted for Netflix’s offer, and prominent shareholder Harris Oakmark, the fifth largest shareholder with 96 million shares (about 4% of the capital), seems to agree with them. «We consider that both agreements are a coin toss, and changing course has a cost. If Paramount really wants to win, it will have to offer a greater incentive,» he says in statements to Reuters.
On Monday, Paramount amended its $108.4 billion hostile takeover bid to bolster its financing. Oracle co-founder Larry Ellison, whose son David owns Paramount, now personally guarantees $40.4 billion of the bid to acquire Warner Bros. Shareholders have until January 21 to accept or reject the offer.
Another of the names of the day is Novo Nordisk. The Danish pharmaceutical company’s Wall Street-listed shares soared 7% in pre-market trading after the FDA gave the green light to ‘Wegovy’, becoming the first oral GLP-1 therapy authorized for weight control.
The FDA approval gives Novo an advantage over rival Eli Lilly. Both companies already offer injectable treatments to combat obesity, but the development of a pill could make the treatment popular.
Johnson&Johnson ha sido sentenced to pay more than 1.5 billion dollars to a woman who said that exposure to asbestos in her talc products caused peritoneal mesothelioma, a rare type of cancer. The company has denied that it contained it. “We will immediately appeal this egregious and clearly unconstitutional verdict, which is the direct result of the serious errors made by the trial court, which allowed the plaintiff’s attorney to fill the record with inappropriate and prejudicial statements and assertions,” said J&J’s head of litigation, Erik Haas, in statements reported by Bloomberg.
Huntington Ingalls Industries rises 5% after Bloomberg reported that US President Donald Trump plans to meet with several defense industry executives next week to urge them to invest more in weapons and research and development.
AST SpceMobile shares fell 3% on Tuesday morning, correcting part of yesterday’s sharp 14% rise. Starlink’s rival company soared following President Trump’s signing of an executive order last week to ensure US «superiority in space.»
CACI shares rise after news that the defense contractor will acquire space technology provider ARKA Group from funds managed by Blackstone Tactical Opportunities for $2.6 billion.
In raw materials markets, oil prices remain stable after rising more than 2% in the previous session, at a time when the US announced that it could sell the Venezuelan crude it has confiscated, while Ukraine’s attacks on Russian ships and docks increased fears of a supply interruption. US West Texas oil futures fell 0.14% to $57.93 an ounce, while international benchmark Brent crude fell 0.14% to $61.98.
Special mention today also for Gold, which marks new historical highs and even exceeds $4,500 per ounce. The yellow metal moves to $4,519 per ounce after reaching a maximum of $4,530, and accumulates a rise of more than 70% in 2025.
The euro rose 0.09% against the dollar, leaving the exchange rate at $1.1775 for each single currency.