This is what you need to know to trade today monday december 5:
Stock markets are range bound on Monday after a similar performance on Friday. The initial decline after a strong NFP report reversed and the market closed little changed on Friday. The NASDAQ lost 0.4%, while the Dow and S&P 500 were flat. This trend continues, and the European markets are little changed in their session. Asian markets were helped by another good performance from the Hang Seng, but US futures are currently pointing to a lower open. Indecision could be the keynote for the week, pending next week’s FOMC. The market had been pricing in a pause from the Fed, but now, after the strong numbers from the NFP, we are back to uncertainty.
Initially, the dollar was supported by the recovery at the front of the yield curve, but this trend has reversed and the dollar index has returned to 104.22 points. However, the yields have rallied again this morning, so not much follow-through is expected either. Oil has risen due to the reopening of China and the $60 limit imposed by the EU. Gold struggles to break above $1,800 and Bitcoin $17,248.
European markets are trading mixed:
- FTSE: 0.4%
- Dax: -0.3%
- Eurostoxx: -0.3%
US futures are trading lower:
- Nasdaq: -0.5%
- Dow Jones: -0.5%
- S&P 500: -0.5%
Wall Street News (SPX) (QQQ)
Tesla (TSLA) reduces production of the Model Y in December at the Shanghai plant by more than 20% compared to November – sources.
Alphabet Inc (GOOG) & Meta Platforms Inc (META): The New Zealand government said it will introduce a law that will require big online digital companies like Alphabet’s Google and Meta to pay New Zealand media companies for local news content that appears in their feeds.
Amazon.com Inc (AMZN) and Apple Inc (AAPL): The companies plan to resume advertising on Twitter.
AT&T Inc (T): The company has agreed to pay a $6.25 million fine to settle a Securities and Exchange Commission lawsuit accusing the phone company of selectively leaking financial information to Wall Street analysts, the SEC said in a court filing.
Delta Air Lines Inc (DAL): The airline has offered a 34% cumulative pay increase to its pilots over three years on a new contract.
Horizon Therapeutics Plc (HZNP) and Johnson & Johnson (JNJ): The company’s Janssen Global Services unit said Saturday that it has no intention of making a bid for biotech firm Horizon Therapeutics.
Vodafone Group Plc (VOD): Nick Read will step down as head of Vodafone at the end of the year and will be replaced on an interim basis by its chief financial officer.
upgrades and downgrades
Source: WSJ.com
Economic data
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
