U.S. stock futures rise in anticipation

U.S. stock futures rose on Monday morning. Investors are looking ahead to a shortened trading week. They are waiting for key economic data and earnings reports.

Despite broad-based sell-off in December, vast majority of global indices closed 2024 in black across asset classes; U.S. large caps reigned supreme, with S&P 500 soaring 25% in 2024 despite December’s 2.4% drop; outside U.S., China was best-performing major equity market with… pic.twitter.com/DA17kFk2gC

— Liz Ann Sonders (@LizAnnSonders) January 6, 2025

Futures for the S&P 500 gained 0.8%. Dow Jones Industrial Average futures climbed 0.4%. Nasdaq futures were up 1%.

Even with recent weakness, S&P 500’s price/sales ratio continues to hover near all-time high pic.twitter.com/Cc58T8IZM0

— Liz Ann Sonders (@LizAnnSonders) January 6, 2025

Nippon Steel and U.S. Steel are suing the Biden administration. They are challenging the decision to block Nippon’s acquisition of U.S. Steel. Nippon shares fell 0.8% in Tokyo on Monday.

Stocks To Watch | 📊Ready, set, trade! Keep an eye on these stocks as they set the market abuzz #StockMarket pic.twitter.com/rFYxBbTq7Q

— ET NOW (@ETNOWlive) January 6, 2025

U.S. Steel shares jumped 3.6% in premarket trading. The lawsuit was filed in the U.S. Court of Appeals for the District of Columbia. It claims the decision was political and violated due process. Japanese leaders are worried about the impact on future U.S.-Japan investments. “We need to have a clear statement as to why there are security concerns, otherwise we will not be able to talk about it in the future,” Prime Minister Shigeru Ishiba said. Uber shares rose 5.1% premarket after announcing a $1.5 billion stock buyback. CFO Prashanth Mahendra-Rajah said the company’s shares were “undervalued relative to the strength of our business.” Several companies will report quarterly results this week. They include Walgreens, Delta Air Lines, and Constellation Brands. Markets had a strong performance in 2024 despite high interest rates.

Stock futures gain amid key reports

The economy and job market remain robust, but the future is uncertain. The Fed signaled fewer rate cuts for 2025, dampening the final weeks of 2024 trading. This week will bring a flood of labor market data. Government reports on job openings, layoffs, and the December jobs report are all due. European markets were mostly higher at midday. Germany’s DAX added 1.3%. The CAC 40 in Paris was up 2.1%. Britain’s FTSE 100 inched up 0.1%. In Asia, the Nikkei 225 index lost 1.5%. The Hang Seng in Hong Kong declined 0.4%. The Shanghai Composite slipped 0.1%. Markets shrugged off a report showing China’s services sector grew at the fastest pace in seven months in December. Australia’s S&P/ASX 200 gained 0.1%. Taiwan’s Taiex jumped 2.8%. South Korea’s Kospi surged 1.9%, driven by gains in major tech stocks. Oil prices rose modestly. U.S. crude gained 58 cents to $74.54 per barrel. ICE Brent crude rose 53 cents to $77.04 per barrel. The U.S. dollar dipped against the Japanese yen and euro.