Here are the most important news investors need to start their trading day:
1. New high
A professional trader works on the trading floor of the New York Stock Exchange (NYSE).
Brendan McDermid | Reuters
Both companies set new closing records on the first trading day of December S&P 500 Index and Nasdaq Index. The Dow Jones started falling in the last month of the year. On Tuesday, the October job openings report could provide a catalyst for markets ahead of Friday’s more closely watched November non-farm payrolls report. Traders will also be watching comments from Fed officials for signals on what action the central bank will take at its Dec. 17-18 meeting. Follow real-time market updates.
2. Decision in December
Fed Governor Christopher Waller says “I’m leaning towards supporting a rate cut” at the upcoming meeting on Monday. But he added that data showing higher-than-expected inflation could change his mind. Traders expect the Federal Reserve to cut its benchmark interest rate by a quarter of a percentage point this month as it eases its efforts to curb inflation. Previously, November and September were revised down by 25 percentage points and 0.5 percentage points respectively.
3. Musk’s money
Elon Musk attends the America First Policy Institute Gala at Mar-a-Lago on November 14, 2024 in Palm Beach, Florida.
Carlos Barria | Reuters
Elon Musk’s efforts to restore record pay have failed again. a judge uphold her ruling 2018 Tesla A $56 billion compensation package was improperly awarded. The pay package is the largest ever for a top executive at a U.S. public company. Musk said he planned to appeal the ruling, calling it “absolutely corrupt.”
4. Intel gets kicked out
Intel declare CEO Pat Gelsinger resigns on Monday. The move comes as the traditional chipmaker strives to make up for market losses lost to Nvidia. Intel shares have fallen more than 50% this year. Intel Chief Financial Officer David Zinsner and Intel Product Executive MJ Holthaus will take over as interim co-CEOs.
5. Dollar store downturn
this Dollar chain stores in trouble. While consumers are looking for deals after years of high inflation, dollar tree and Dollar General No benefit gained. The two retailers will announce earnings this week, and both have lowered their sales forecasts for this year. Their respective stock prices have fallen by more than 40% this year. The chains have several problems: Low-income shoppers have been hardest hit by inflation, the companies have struggled to build e-commerce operations, and sparse staffing and worker safety issues have hurt the store experience.
– CNBC’s Alex Harring, Jeff Cox, Lora Kolodny, Rohan Goswami, Hayden Field and Melissa Repko contributed to this report.
