US stock futures were jittery on Monday following a turbulent week that saw the Federal Reserve’s hawkish rate decision and the “Triple Witching” hour session on Friday.
The Dow Jones Industrial Average futures were down by around 106 points, while S&P 500 futures decreased by 0.083%.
The tech-heavy Nasdaq 100 futures managed to stay in the green, gaining 32 points.
Investors are hopeful for a “Santa Claus rally” that could help end the year on a high note.
Historical data shows that, since 1969, the S&P 500 has averaged a 1.3% gain in the last five trading days of the year and the first two days of January, according to the Stock Trader’s Almanac.
Trading schedules will be adjusted for the holiday week, with all markets closed on Wednesday and trading hours shortened on Christmas Eve.
Despite a shortened week, several important data points are expected to be released, providing key insights for investors.
These include consumer confidence for December on Monday, durable goods orders, and new home sales data on Tuesday, and initial jobless claims and trade balance data later in the week.
These releases will help shape expectations for the economy and the Federal Reserve’s future actions.
Asian peers end in green
Asian stocks ended higher on Monday after the Federal Reserve’s preferred inflation gauge came in below expectations, sparking hopes for further rate cuts by the US Federal Reserve in 2025.
China’s Shanghai Composite index closed down 0.5% at 3,351.26 after a volatile session.
Hong Kong’s Hang Seng index gained 0.82%, finishing at 19,883.13, driven by expectations of increased economic support from China and a shift toward a more accommodative monetary stance next year.
Japanese markets posted strong gains, with the Nikkei rising 1.19% to 39,161.34 and the broader Topix index up 0.92% at 2,726.74, led by automakers and technology stocks.
In South Korea, the Kospi advanced 1.57% to 2,442.01, buoyed by foreign and institutional investors turning net buyers following the release of softer-than-expected US PCE inflation data.
Indian shares posted gains on Monday, breaking a five-session losing streak.
The benchmark Sensex closed 498.58 points higher at 78,540.17.
European markets mixed
European stock markets were mixed on Monday, with trading subdued ahead of the Christmas holidays.
The pan-European Stoxx 600 index remained slightly positive, although most sectors and major bourses were in the red.
German stocks traded lower on Monday morning, with the DAX index slipping by 54 points, or 0.3%, to 19,831.
Data revealed that Germany’s import prices rose for the first time in three months in November, up by 0.6% year-on-year.
French stocks drifted lower, with the CAC 40 index down by 32 points, or 0.5%, at 7,242 in early trade.
UK stocks showed little movement, with the FTSE 100 index edging up by 3.43 points, or 0.04%, to 8,087.90 in morning trade.
Official data from the Office for National Statistics showed the UK economy stalled in the third quarter, with GDP growth revised down to 0% from the initial 0.1%. Year-on-year, GDP rose by 0.9%, slightly below the previous estimate of 1.0%.
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