A potential government shutdown is also weighing on stock futures
While the blue-chip index snapped its historic slump yesterday, Dow Jones Industrial Average (DJIA) futures are slipping again this morning, last seen down 148 points. If these losses hold, this could be the Dow's worst week since March 2023. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are also lower, the latter eyeing an even steeper triple-digit drop.
Investors are reacting to the personal consumption expenditures (PCE) price index for November, which came in at a slightly lower-than-expected 2.4% year-over-year, but is still above the Federal Reserve's inflation target of 2%. The potential for a government shutdown is also weighing on sentiment, after a Trump-endorsed House Republican measure failed to pass.
Continue reading for more on today's market, including:
- Nuclear newbie could be the best SPX stock of 2024.
- Hims & Hers Health stock boasting contrarian potential.
- Plus, Starbucks facing strikes; Novo Nordisk's weight loss drug failure; and NKE brushes off quarterly win.

5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 2.3 million call contracts and 1.3 million put contracts exchanged on Thursday. The single-session equity put/call ratio rose to 0.62 and the 21-day moving average remained at 0.61.
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Shares of
Starbucks Corp (NASDAQ:SBUX) are down 1% in premarket trading, as baristas in Chicago, Los Angeles, and Seattle strike for better wages and schedules. The Works Union, which represents workers in 525 stores, said strikes may spread across the nation in the coming days. SBUX is down 7.6%
this year.
- Novo Nordisk A/S (NYSE:NVO) stock is down 20% before the bell, after the pharmaceutical company's weight loss drug CagriSema showed disappointing results in a late-stage trial. Over the last nine months, NVO shed more than 22%.
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Nike Inc (NYSE:NKE) stock is 6.3% lower ahead of the open, reversing earlier gains despite surpassing top- and bottom-line expectations for the fiscal second quarter. Earning and revenue saw a
year-over-year drop, however, which CEO Elliott Hill attributed to discounts. NKE carries a 29% year-to-date deficit.
- Key economic indicators slated for release amid holiday closures.

European, Asian Markets React to Slew of Economic Data
Another day of fresh economic reports sent markets in Asia lower Friday. Japan’s core inflation reading came in at a higher-than-expected 2.7% for November, while the People’s Bank of China kept prime loan rates steady. The Japanese Yen is strengthening, after falling in relation to the U.S. dollar yesterday. What’s more, in South Korea the producer price index (PPI) grew 1.4% -- its fastest growth since August. In response, China’s Shanghai Composite lost 0.06%, Hong Kong’s Hang Seng fell 0.2%, Japan’s Nikkei dropped 0.3%, and South Korea’s Kospi suffered a steep 1.3% fall.
European stocks are faring no better, as investors take in a slew of global economic reports and await U.K. retail sales and France’s latest PPI data. Novo Nordisk shares are weighing heavy as well, after its obesity drug failed to meet expectations. At last check, London’s FTSE 100 is down 0.9%, France’s CAC 40 is off 1.1%, and Germany’s DAX sports a 1.3% loss.