All three major benchmarks are lower before the bell
Following a strong holiday week, futures on the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are all firmly lower this morning, as tech stocks succumb to end-of-the-year profit taking. Mining stocks are also taking a hit, as gold and silver prices turn sharply lower, the latter after jumping above $80 for the first time in overnight trading. Looking ahead, traders will be eyeing the release of meeting minutes from the Federal Reserve, which will close out the year on Wednesday.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 1.6 million call contracts and more than 1 million put contracts exchanged on Friday. The single-session equity put/call ratio rose to 0.64, while the 21-day moving average remained at 0.58.
- DigitalBridge Group Inc (NYSE:DBRG) stock is up 31.3% premarket, after Bloomberg reported that SoftBank is in talks to acquire the global digital infrastructure investment firm for $4 billion. Should these gains hold, DBRG will open at its highest levels since March 2024.
- Lululemon Athletica Inc (NASDAQ:LULU) stock is down 0.4% in electronic trading, after the Wall Street Journal reported Lululemon founder Chip Wilson is launching a proxy fight for board changes. Year to date, the athletic retailer is down 45.4%.
- Praxis Precision Medicines Inc (NASDAQ:PRAX) stock is up 12.6% before the bell, after BTIG named it a top pick for 2026. The firm also lifted its price target to $843 from $507 and maintained its "buy" rating. Since the start of the year, the biotech stock is up 249.5% heading into today.
- Fed meeting minutes and more coming up this week.
Stocks Scattered Overseas
Asian markets settled mixed, as investors focused on safe havens, with silver extending its record-breaking surge. For the day, Japan’s Nikkei shed 0.4%, Hong Kong’s Hang Seng lost 0.7%, China’s Shanghai Composite inched 0.04% higher, and South Korea’s Kospi rose 2.2%.
Markets are also mixed in Europe, as defense stocks slide following this weekend’s peace talks between U.S. President Donald Trump and Ukrainian President Volodymyr Zelenskyy. At last check, London’s FTSE 100 is up 0.07%, France’s CAC 40 is 0.1% higher, and Germany’s DAX is off 0.09%.