Wall Street Looking for First Win of 2025

All three major benchmarks could start 2025 with a weekly loss

Fernanda Horner

Digital Content Manager

Jan 3, 2025 at 9:04 AM

Futures on the Dow Jones Industrial Average (DJIA) are attempting another triple-digit pop this morning, after the blue-chip index pivoted into the red yesterday to extend its losing streak. Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) futures are higher as well, after the two benchmarks met a similar fate amid rising Treasury yields.

All three indexes are still on track to start the year with a weekly loss. Traders are also eyeing today's release of the ISM Manufacturing Index and commentary from Federal Reserve officials.

Continue reading for more on today's market, including:

NDX debut drew call traders to this tech stock.
VIX Trading: What you need to know for 2025.
Plus, US Steel buyout blocked; Tesla's first annual delivery drop; and LVS upgraded.

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5 Things You Need to Know Today

The Cboe Options Exchange (CBOE) saw more than 1.7 million call contracts and 1.3 million put contracts exchanged on Thursday. The single-session equity put/call ratio rose to 0.80 and the 21-day moving average remained at 0.61.
President Joe Biden blocked Nippon Steel's $14.9 billion buyoutof United States Steel Corp (NYSE:X), citing national security issues. X is down 7.8% in premarket trading, looking to add to its more than 31% year-over-year deficit.
Tesla Inc (NASDAQ:TSLA) yesterday announced a drop in annual deliveries for the first time. Shares dropped more than 6% in the previous session, and marked a fifth-straight daily drop. TSLA is up 0.5% before the bell, and still amassed a 59.1% lead over the last 12 months.
Jefferies upgraded Las Vegas Sands Corp. (NYSE:LVS) to "buy" from "hold," and lifted its price objective to $69 from $60 as conditions in Macau improve. LVS rose 17.3% in the last six months, and is up 3.4% ahead of the open.
The Federal Reserve's meeting minutes and earnings are on tap next week.

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European Markets Struggle Amid Germany's Jobs Data

Markets in Asia finished mixed as a slew of economic updates emerge from the region. South Korea’s presidential drama continued, as the impeached Yoon Suk Yeol refused to vacate the presidential residence. China’s National Development and Reform Commission said it plans to expand the issuing of ultra-long bonds to boost consumption, while the People’s Bank of China is expected to slash interest rates from 1.5% “at an appropriate time.” For the session, Japan’s Nikkei fell 1%, Hong Kong’s Hang Seng added 0.7%, South Korea’s Kospi charged 1.8% higher, and China’s Shanghai Composite fell 1.6%.

European stocks are suffering as the auto sector struggles alongside food and travel names. Jobs data out of Germany showed unemployment grow by 33,000 to 2.807 million last month. At last glance, France’s CAC 40 is 0.9% lower, Germany’s DAX has shed 0.3%, and London’s FTSE 100 is just below breakeven.

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