December S&P 500 E-Mini futures are up +0.02% and Nasdaq 100 E-Mini futures are up +0.09%, indicating a muted open on Wall Street. Investor focus this week is on Nvidia earnings, Federal Reserve minutes, and U.S. jobs data.
In Friday’s trading session, Wall Street ended mixed with semiconductor stocks falling, and Stubhub Holdings and Bristol-Myers Squibb tumbling. DoorDash climbed over +6%, and analysts see it as a buying opportunity. Market sentiment remains cautious.
Fed officials express skepticism about further rate cuts, with futures pricing in a 55.4% chance of no change and a 44.6% chance of a 25 basis point cut in December. The White House removed tariffs on coffee, bananas, and beef amid rising grocery prices.
Nvidia’s earnings report this week is highly anticipated, with the stock dubbed “the most important stock on Earth.” Other companies releasing earnings include Walmart, Home Depot, and Target. Economic data releases will provide insight into the U.S. economy’s current state.
The Euro Stoxx 50 Index is down as investors await Nvidia earnings and U.S. economic data. Italy’s inflation rate eased, and the EU revised its economic growth forecast. Market focus is on the Eurozone’s preliminary purchasing managers’ surveys and ECB officials’ remarks.
Asian markets closed lower, with China’s Shanghai Composite Index down -0.46% and Japan’s Nikkei 225 Stock Index down -0.10%. Tensions between China and Japan escalated over the weekend, impacting market sentiment.
Japanese GDP data for the third quarter shows a stronger-than-expected contraction. Industrial production was revised higher for September. Market movers in pre-market trading include Alphabet, Nvidia, E.W. Scripps, Rubrik, Dell Technologies, and HP Inc.
Today’s U.S. earnings spotlight includes Huazhu, Aramark Holdings, Danaos, J & J Snack Foods, Sohu.Com, and more. Analysts and investors are closely watching these companies’ performance.
Read more at Yahoo Finance: Stocks Set for Muted Open as Investors Await Nvidia Earnings and U.S. Jobs Data