The Dow Jones rose 0.33% to 42,856 points, the S&P 500 rose 0.74% to 5,986 points, while the NASDAQ 100 advanced 1.14% to 21,569 points.
Investors head into another shorter-than-usual trading week as The New York Stock Exchange will remain closed on Thursday in mourning for the death of former President Jimmy Carter.
The main US stock market indices come from a bullish session, in which the S&P 500 gained 1.26%, while the NASDAQ 100 gained 1.67%. The Dow Jones rose 0.80%.
Traders will look for clues about the strength of the economy and the soundness of the Federal Reserve’s rate plans. Callie Coxchief market strategist at Ritholtz Wealth Management, notes that this week could be another opportunity for traders to recalibrate their expectations.
“The data shows us that unemployment is rising and that people are having a hard time finding work. It will also be important to monitor returns. The 10-year yield is near a high of 4.6%, and employment days have made bond investors nervous in the past,” he tells CNBC.
The December jobs report will be released on Friday and will be one of the last key data before the Federal Reserve meeting at the end of the month. Investors are also awaiting the Tomorrow’s Job Offers and Labor Turnover Survey (JOLTS) and Wednesday’s December ADP Employment Survey.
“It’s clear that both retail investors and Wall Street have high hopes for 2025,” says Cox. “Americans are unusually confident, CEOs are optimistic, and Earnings growth expected to be strongest in years. This is a decent environment for the stock market, but after two years of 20%-plus gains, we may be a little used to it,” he adds. “High expectations are going to be a clear and recurring theme of 2025, and we may have our first disappointment when the data starts rolling in.”
In the macroeconomic agendaalthough the market focuses on labor data, today we will know the services PMI and US composite.
In it business sectionshares of US chipmakers rise, along with those of their global peers, after Microsoft announced its spending plans on AI-enabled data centers.
Microsoft will invest about $80 billion in the development of data centers to train AI models and deploy AI-based and cloud-based applications in FY25.
Besides, Bernstein has raised Microsoft’s price target by $5 to $516implying that the shares can rise 21.9% over the next year, accompanied by a buy recommendation.
Walt Disney, Fox and Warner Bros. Discovery will ask the U.S. Court of Appeals on Monday to overturn a ruling that blocked the launch of their Venu Sports streaming service, arguing that a district judge was wrong to halt its planned debut for antitrust reasons.
The companies argue that the lower court’s decision denies consumers access to a new low-cost service designed to attract price-conscious sports fans who have abandoned the traditional television ecosystem or never subscribed. first of all.
FuboTV soars more than 155% after the company confirmed it has reached a deal to combine its live online TV businesses with Walt Disney.
The new company, which will include Disney’s Hulu + Live TV business, will be 30% owned by Fubo and 70% owned by Disney, and will form the second-largest digital pay TV provider after YouTube TV.
On the other hand, Henry Schein shares rose more than 2.5% at the market open after a rare double rise by Bank of America.
Analyst Allen Lutz upgrades his rating from ‘underweight’ to ‘buy’. Lutz also raises his price target by $15 to $84, suggesting an upside of 21.6% from Friday’s close of the session.
Constellation Brands, Walgreens Boots Alliance and Delta Air Lines will report results throughout the week.
On the other hand, the benchmark 10-year US bond rises to offer a yield in the secondary market of 4.608%.
In the raw materials market, oil prices They are rising again, while remaining at their highest level since mid-October, as cold weather spurs buying, while expectations of tightening sanctions on Iranian and Russian oil exports provide further support.
In this way, the Brenta benchmark in Europe, rose 0.75% to $77.08 per barrel, while West Texas Intermediate oil futures rose another 0.8% to $74.55.
Regarding currencies, the Euro Dollar rises sharply, 1.08%, establishing the exchange rate at 1.0419 dollars for each community currency.
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