Stock market today: S&P 500, Nasdaq futures hold just short of records with JOLTS on deck

Published On Dec 3, 2024, 6:56 AM

US stock futures are holding just below record highs as investors anticipate the upcoming JOLTS job openings data and remarks from Federal Reserve officials about potential interest rate cuts. The market is currently pricing in a 73% chance of a quarter-point rate cut at the Fed's meeting on December 18. Additionally, Tesla's stock fell due to disappointing shipment figures from China, while US Steel shares dropped significantly following political developments regarding its acquisition by Nippon Steel.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SPY View SPY chart on TradingView

Positive

The S&P 500 and Nasdaq are positioned near all-time highs, and optimism surrounding potential interest rate cuts could drive further gains. However, caution is advised as earnings and economic data will play a major role in determining market direction moving forward.

TSLA View TSLA chart on TradingView

Negative

Tesla faces challenges with shipment figures from China and legal uncertainties surrounding its CEO's compensation package, which could put downward pressure on the stock. Investors might want to consider this when evaluating their positions in Tesla.

X View X chart on TradingView

Negative

US Steel is likely to face headwinds as political factors hinder its acquisition by Nippon Steel. The significant drop in its stock could present an opportunity for short-sellers or those looking to invest at a lower price if recovery prospects improve.

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