Tuesday is the last trading day of 2024 and markets will be closed tomorrow for New Year’s Day; U.S. stock futures are pointing higher, with investors hoping the Dow Jones Industrial Average and S&P 500 end what is tracking to be their worst month since April on a high note; Tesla (TSLA) stock is moving higher in premarket trading after notching a 10% decline over the past three sessions ahead of its quarterly deliveries report; Boeing (BA) shares are edging higher after declining Monday following last weekend’s deadly Jeju Air crash; and investors are watching for today’s reading of the S&P Case-Shiller Home Price Index for October. Here’s what investors need to know today.
1. Today Is Final Day of 2024 Trading; Markets Closed Tomorrow
Investors are preparing to take a break from trading with the New Year’s Day holiday Wednesday, when both stock and bond markets will be closed. Today, bond markets will close early at 2 p.m. ET. Markets will resume normal trading hours on Thursday for the first trading session of 2025. It’s been a positive year for stock indexes, with the tech-focused Nasdaq gaining about 30%, the S&P 500 higher by nearly 24%, and the Dow Jones Industrial Average up 13%.
2. US Stock Futures Higher; Dow, S&P 500 on Track for Worst Month Since April
U.S. stock futures are pointing higher Tuesday but markets have swooned in the final trading days of December. Nasdaq futures are up 0.5% after the index shed 1.2% Monday. S&P 500 and Dow futures are higher by 0.4% and 0.3%, respectively, but each is on pace to post its biggest monthly loss since April. Yields on the 10-year Treasury note are lower at around 4.52%, while bitcoin (BTCUSD) is trading nearly 2% higher at above $94,000. Oil and gold futures also are higher.
3. Tesla Stock Rising After Three-Session Skid
Tesla (TSLA) stock is 1% higher in premarket trading as the electric vehicle (EV) maker looks to rebound from a trading slump ahead of its deliveries report later this week. Tesla shares have lost 10% of their value in the three sessions since Christmas, although the stock is 68% higher year-to-date. Tesla is expected to release its fourth-quarter deliveries report on Thursday, with analysts expecting the EV maker to have delivered about 510,000 units, up 10% from the prior quarter and 5% year-over-year.
4. Boeing Shares Stable After Declining on South Korean Airline Crash
Boeing (BA) stock is edging higher in premarket trading after declining more than 2% Monday following the weekend crash of a South Korean airline flight. South Korea has ordered an inspection of all 737-800 planes in the aftermath of a Jeju Air crash over the weekend that killed 179 people. It was the latest incident for Boeing, whose shares have lost roughly a third of their value this year amid aircraft quality issues and labor disruptions, prompting the company to raise additional capital in a bid to preserve its investment-grade credit rating and stem