Stock market today: Dow, S&P 500 hold near record highs to kick off final month of banner 2024

Published On Dec 2, 2024, 9:06 AM

U.S. stock futures are stable near record highs as investors prepare for significant labor market data this week that could impact interest rates. The S&P 500 and Dow have recently achieved their best monthly gains in a year, attributed to optimism following President-elect Trump's victory. There's anticipation for the upcoming November jobs report, as surprising numbers could influence expectations for Federal Reserve rate cuts. Additionally, concerns around Trump's tariff threats on foreign nations are also in focus. In individual stock news, Stellantis shares are down due to a CEO resignation, while Intel's shares rose following CEO Pat Gelsinger's retirement announcement.

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Stock Forecasts

INTCView INTC chart on TradingView

Positive

Investors should keep an eye on the market reaction to upcoming labor market data, which could alter Fed interest rate expectations. The strong performance from the S&P 500 and Dow suggests ongoing market confidence despite potential volatility from external factors like tariffs. Specifically, Intel is showing signs of recovery post-ceo change, while Stellantis faces challenges ahead.

GAPView GAP chart on TradingView

Positive

With the upgrade from JP Morgan, Gap is seen as positioned for growth due to effective leadership and strategic changes. Analysts predict increased profitability and sales growth.

LULUView LULU chart on TradingView

Negative

Lululemon's short interest and negative sentiment could indicate potential downward pressure on the stock, depending on upcoming earnings results. Investors might want to tread carefully as market perceptions could affect stock performance.

NFLXView NFLX chart on TradingView

Positive

Netflix is positioned well ahead of key content releases and has strong financial backing, making it a viable investment despite recent trading ranges.

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