Overview
Financial stocks were dragged down by underwhelming performances from key players such as JPMorgan and Blackstone. Conversely, interest in AI stocks led to gains in sectors like tech and innovation. Additionally, stocks related to defense and housing construction were affected by President Trump's remarks.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
Major News Story
President Trump's statements impacted defense and housing stocks. He warned arms manufacturers to invest more in production and research before authorizing share buybacks or dividends. Moreover, an announcement to ban additional single-family home purchases caused declines in related stocks. Economic indicators presented mixed signals, with November job openings at a one-year low and hiring slowing.
Tomorrow's Economic Indicators
| Time | Indicator |
|---|---|
| 20:30 | U.S. December Challenger Job Cuts |
| 20:30 | U.S. Q3 Nonfarm Productivity |
| 20:30 | U.S. Q3 Unit Labor Costs |
| 20:30 | U.S. Initial Jobless Claims |
| 20:30 | U.S. October Trade Balance |
| 00:00 | U.S. October Wholesale Inventories |
| 23:30 | U.S. Natural Gas Storage |
| 01:00 | U.S. December Import Price Index Expectations |
| 05:00 | U.S. November Consumer Credit |
General Opinion
Investors are cautiously navigating through President Trump's comments and the economic indicators. The focus now shifts to this Friday's employment report and the Supreme Court ruling on global tariffs initiated by President Trump. Adam Crisafulli from Vital Knowledge points out this represents unprecedented government intervention in the economy. Investors are holding back, awaiting the employment report while some are realizing profits based on Trump's statements.
