Last Updated: 4:09 PM EST
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Stock indices finished today’s trading session in the red. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell 0.34%, 0.3%, and 0.35%, respectively. Interestingly, small business optimism in the U.S. jumped sharply in November and hit its highest level since June 2021, which was largely driven by Donald Trump’s election victory.
The NFIB Small Business Optimism Index rose eight points to 101.7, breaking a 34-month streak of being below its 50-year average of 98. The election results sparked confidence among small business owners, who anticipate favorable economic policies, including potential tax cuts, regulatory relief, and easing inflation pressures.
NFIB Chief Economist Bill Dunkelberg noted that the election brought a significant shift in sentiment, with business owners feeling more certain about future conditions. The survey showed a 41-point rise in the percentage of small business owners expecting the economy to improve, the highest level since mid-2020.
Dunkelberg emphasized that Main Street businesses are optimistic about economic growth and eager to expand their operations. Still, inflation remains a concern, though it has slightly eased. In November, 20% of business owners cited inflation as their top issue.
First Published: 3:48 AM EST
U.S. stock futures were near the flatline on Tuesday morning, following a decline in the major indices yesterday. The S&P 500 index (SPX) and the Nasdaq Composite (NDAQ) retreated from their recent record highs on Monday, primarily due to a sharp fall in Nvidia (NVDA) shares. Meanwhile, futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 were down 0.14%, 0.02%, and 0.09%, respectively, at 3:30 a.m. EST, December 10.
Nvidia stock dropped by 2.6% after Chinese regulators announced a probe into potential anti-monopoly violations. This news triggered a broader sell-off in the technology sector, with other tech giants like Meta Platforms (META) and Amazon (AMZN) closing in the red.
Further, Oracle’s (ORCL) stock dropped about 8% after the company missed Wall Street’s expectations for the fiscal second quarter.
On the economic front, no major reports are scheduled for release today. However, investors are awaiting the release of the U.S. Consumer Price Index (CPI) report, due on Wednesday. This data will offer insights into inflation trends and may impact the Federal Reserve’s decisions on monetary policy.
Additionally, several companies, including GameStop (GME), Stitch Fix (SFIX), AutoZone (AZO), and Dave & Buster’s Entertainment (PLAY), are set to report their earnings today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.215% at the time of writing. At the same time, WTI crude oil futures are trending lower, hovering near $68.10 per barrel as of the last check.
Elsewhere, European indices opened lower on Tuesday morning as investors focused on the key U.S. inflation report, due tomorrow.
Asia-Pacific Markets Ended Higher on Tuesday
Most of the Asia-Pacific indices were in the green today. This positive sentiment was driven by China’s plans for more proactive fiscal policies and relaxed monetary measures in 2025, aimed at boosting economic growth and energy demand.
At the same time, Japan’s Nikkei and Topix indices climbed 0.53% and 0.25%, respectively. Further, China’s Shanghai Composite and Shenzhen Component indices gained 0.59% and 0.75%, respectively. However, Hong Kong’s Hang Seng Index declined 0.5%.
Interested in more economic insights? Tune in to our LIVE webinar.
