Is the tech rout finally over?
Stock futures are quietly lower this morning, as investors unpack delayed private payrolls data from the last two months. Jobs growth totaled 64,000 in November, besting analyst estimates of 45,000 and up from a 105,000 drop in October. The unemployment rate rose to 4.6%, above the 4.5% estimates and reigniting concerns about the labor market. Wall Street is also keeping an eye on Broadcom (AVGO) and Oracle (ORCL) after the AI sector slide extended into yesterday, though both are muted this morning.
- The S&P 500 looks well positioned for a year-end rally, per Schaeffer's Senior V.P. of Research Todd Salamone.
- Pre-earnings check-in with Nike stock.
- Plus, ROKU upgraded; Ford raises guidance; and PYPL makes banking moves.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 1.8 million call contracts and more than 1 million put contracts exchanged on Monday. The single-session equity put/call ratio rose to 0.58, while the 21-day moving average remained at 0.58.
- Roku Inc (NASDAQ:ROKU) stock is up 5.1% premarket, after a double upgrade to "overweight" from "underweight" at Morgan Stanley. Year to date, ROKU -- a Top Stock Pick of 2025 -- is up 46.7% heading into today.
- Ford Motor Co (NYSE:F) is in the spotlight this morning after announcing its latest restructuring plans and lifting its full-year guidance. Up 0.7% in premarket trading, the auto stock is up 37.9% since the start of the year.
- PayPal Holdings Inc (NASDAQ:PYPL) is 1.5% higher in electronic trading, after reports that the online payment platform filed an application to create PayPal Bank, a financial institution that can grant loans. Year to date, PYPL is down 28.8%.
- See what's coming up this week.
Stocks Sliding Overseas
Asian stocks suffered losses across the board, mirroring the tech selloff in the U.S. Materials and education stocks also weighed, pushing Hong Kong’s Hang Seng 1.5% lower for the day. Japan’s Nikkei shed 1.6%, China’s Shanghai Composite lost 1.1%, and South Korea’s Kospi led the losers with a 2.2% drop.
European sentiment is following suit, as defense stocks pull back amid ongoing Ukraine-Russia peace talks. Investors are also awaiting the European Center Bank’s (ECB) rate decision that is due out tomorrow, with rates expected to remain unchanged, while the Bank of England (BOE) is expected to cut rates this week. Meanwhile, unemployment in the U.K. saw a small rise to 5.1% in the previous quarter. At last check, London’s FTSE 100 is down 0.5%, Germany’s DAX is off 0.3%, and France’s CAC 40 is 0.03% lower.