The Dow and Nasdaq are up triple digits, brushing off last week's tech weakness
Stock futures are firmly higher this morning, as the last full trading week of the year gets underway. Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are indicating a triple digit open as Wall Street moves past last week's tech sector weakness. Investors will have a flood of economic data to unpack this week, starting with this morning's Empire State manufacturing index, which fell sharply to -3.9 in December from last month's reading of 18.7, below estimates of 10 and back into contraction territory.
- Incase you missed it, the biggest headlines from last week.
- Cboe Global Markets stock pullback could benefit bulls.
- Plus, TLRY extends rally; DG upgraded; and NOW falls on potential acquisition.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.8 million call contracts and more than 1.6 million put contracts exchanged on Friday. The single-session equity put/call ratio fell to 0.57, while the 21-day moving average remained at 0.58.
- Tilray Brands Inc (NASDAQ:TLRY) stock is up 5.8% premarket, building on last week's rally after news that President Trump plans to reclassify marijuana. The company also just launched a new vape, and has been promoting its holiday drink. Heading into today, the equity is down 8.6% year to date.
- Dollar General Corp (NYSE:DG) is 2.6% higher before the bell, after J.P. Morgan Securities upgraded the stock to "overweight" from "neutral," with a price-target hike to $166 from $128. Should these gains hold, the discount retailer could open at its highest level since May 2024.
- ServiceNow Inc (NYSE:NOW) is down 5.2% in electronic trading, after reports that the software name is in talks to acquire cybersecurity startup Armis for $7 billion as soon as this week. So far in 2025, NOW is down 18.4%.
- See what's coming up this week.
Asian Markets Climb as All Eyes Turn to ECB
Markets in Asia finished lower after a slew of economic data was released across the region. Hong Kong’s Hang Seng and Japan’s Nikkei both settled off 1.3%, despite Japan’s fourth-quarter Tankan numbers coming in at +15, the highest reading in four years for business optimism. Meanwhile, retail sales in China missed analysts’ estimates. For the session, China’s Shanghai Composite and South Korea’s Kospi shed 0.6% and 1.8%, respectively.
Sentiment is looking up in Europe, as stocks brush off pharma sector weakness. Investors are eyeing the European Central Bank’s (ECB) policy meeting on Thursday, with rates expected to remain steady. Defense stocks are also struggling, after Ukrainian President Volodymyr Zelenskyy suggested abandoning the country’s plan to join NATO. At last check, both London’s FTSE 100 and France’s CAC 40 are up 1%, while Germany’s DAX is 0.3% higher.