Mon Dec 02 15:08:04 UTC 2024: ## Wall Street Sees Mixed Start After Record November Gains
**New York, NY** – US equity futures opened mixed on Monday, following a record-breaking November for major indexes. While the Dow and S&P 500 futures showed slight declines, the Nasdaq futures edged higher, fueled by a pre-market surge in Tesla shares following a bullish analyst upgrade.
Tesla’s 2% gain was attributed to Roth MKM’s upgrade to “buy,” citing Elon Musk’s political connections and the company’s AI potential. Stifel further boosted the stock, raising its price target. This positive sentiment contrasted with the news of Intel CEO Pat Gelsinger’s upcoming retirement, sending ripples through the tech sector.
The market is currently digesting various factors. Early economic data, including manufacturing and construction spending reports, are under scrutiny. Further insights are expected later in the week with the release of labor market data and speeches from Federal Reserve officials Waller and Williams, which could influence interest rate expectations.
Strong Black Friday sales figures, showing a 3.4% year-over-year increase in US retail sales, provided a positive counterpoint. Online sales soared 14.69%, boosting retail-related stocks like Gap. However, Stellantis’ stock plunged 9% following the resignation of its CEO.
Bitcoin retreated slightly, reflecting a more cautious investor sentiment. Meanwhile, the steel sector saw mixed pre-market activity.
Analysts predict a cautiously bullish short-term outlook, with tech and small-cap stocks potentially leading further gains. However, upcoming Federal Reserve commentary and economic data could temper this optimism. Investors are advised to closely monitor key sectors and macroeconomic indicators for further direction.
First Piper 