Dow Jones Industrial Average (DJIA), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) futures are quietly higher this morning. Traders are for now brushing off an ADP jobs report for November that showed a surprise drop in private payrolls to 32,000, as opposed to the 40,000 gain analysts expected. Wall Street is also watching Bitcoin's (BTC) recovery from recent losses, while hopes that the Federal Reserve will deliver another interest rate cut next week remain high.
- The SPX could keep extend its win streak, says Schaeffer's Senior Quantitative Analyst Rocky White.
- Zscaler stock flashing historically bullish signal.
- Plus, semiconductor stock surging; Dollar Tree stock brushes off quarterly win; and CRWD slumps.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2 million call contracts and more than 1 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.54, while the 21-day moving average remained at 0.58.
- Marvell Technology Inc (NASDAQ:MRVL) stock is up 10.4% premarket, following a third-quarter earnings and revenue beat. The semiconductor staple also issued a strong growth outlook for its data centers and announced the acquisition of AI startup Celestial AI in deal worth roughly $3.25 billion. MRVL is looking to trim its 15.9% year-to-date deficit and extend its four-day win streak.
- Shares of discount retailer Dollar Tree Inc (NASDAQ:DLTR) are down 0.6% before the open, brushing off better-than-expected third-quarter earnings and raised fiscal-year profit guidance. The security sports a 45.4% lead for 2025, but its latest rally lost steam at the $112 level.
- Crowdstrike Holdings Inc (NASDAQ:CRWD) stock is down 1.1% ahead of the bell, as overvaluation concerns cast a shadow over a top- and bottom-line beat for the third quarter. The cybersecurity name also issued strong guidance for the fiscal fourth quarter. Shares are up 51% this year, but have taken a breather from a Nov. 12, record high of $566.90.
- Plenty of economic data is due out this week, including some previously delayed indicators.
European Stocks in Recovery Mode
Asian markets settled mixed for the session. Japan’s Nikkei rose 1.1% on bounce-back strength from SoftBank, Tokyo Electron, and Lastertec. A recovery in BTC also restored risk-on sentiment. South Korea’s Kospi was the other gainer, adding 1%, after Q3 gross domestic product (GDP) saw 1.8% year-on-year growth, above estimates of 1.7%. On the flip side, Hong Kong’s Hang Seng suffered a 1.3% pullback, while China’s Shanghai Composite shed 0.5%.
European markets are mostly in the black, recovering alongside their U.S. counterparts. Several fashion stocks were in focus, including Germany’s Hugo Boss and Zara parent Inditex. At last check, France’s CAC 40 is 0.1% higher, Germany’s DAX is up 0.2%, and London’s FTSE 100 is slipping 0.1%.
