From Investing.com: 2024-11-12 09:47:23

U.S. stocks set for subdued open as focus shifts to key inflation data later in the week. Indexes hit record highs as investors anticipate Trump’s tax cuts. Tesla falls 1.8% in premarket trading. Small-cap futures down 0.6%. Crypto stocks ease as bitcoin pulls back. Consumer price inflation data due Wednesday.

Investors await data to provide direction to Federal Reserve policy path. Expectations for interest rate reductions dialed back. Traders pricing in 65% chance of 25 basis point rate cut in December. Fed officials to speak later in the day. Dow E-minis up 0.11%. E-minis down 0.08% and 0.03%.

Possibility of “Red Sweep” eyed with Republicans projected to win U.S. House majority. Home Depot up 1.6% after forecasting smaller drop in same-store sales. Novavax drops 7.3% on lower revenue forecast. Grab Holdings jumps 10.1% after raising fiscal 2024 revenue forecast. Shopify shares climb 14% after beating revenue estimates.



Read more at Investing.com: Wall Street opens little changed as focus moves to economic data By Reuters