(Editor’s note: The future prices of benchmark tracking ETFs and the headline were updated in the story.)
U.S. stock futures swung between gains and losses on Tuesday after Monday’s declines. Futures of major benchmark indices were mixed.
The Federal Open Market Committee’s two-day meeting begins today, with investors eyeing a rate cut decision tomorrow.
Meanwhile, the 10-year Treasury bond yielded 4.15% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing an 89.4% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.04% |
| S&P 500 | 0.06% |
| Nasdaq 100 | 0.02% |
| Russell 2000 | -0.06% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Tuesday. The SPY was up 0.063% at $684.06, while the QQQ declined 0.037% to $624.05, according to Benzinga Pro data.
Stocks In Focus
Ares Management
- Ares Management Corp. (NYSE:ARES) jumped 8.71% following the announcement of its inclusion in the S&P 500 index, effective from Dec. 11.
- Benzinga’s Edge Stock Rankings indicate that ARES maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are available here.
Nvidia
- Nvidia Corp. (NASDAQ:NVDA) rose 1.57%, Intel Corp. (NASDAQ:INTC) advanced 0.62%, and Advanced Micro Devices, Inc. (NASDAQ:AMD) gained 1.11% after President Trump confirmed on social media that NVDA will be allowed to ship its H200 chips to approved customers in China and other countries.
- NVDA maintains a stronger price trend over the short, medium, and long terms, with a weak value ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here.
Toll Brothers
- Toll Brothers Inc. (NYSE:TOL) dropped 3.49% after reporting mixed financial results for the fourth quarter of fiscal 2025.
- Benzinga’s Edge Stock Rankings shows that TOL maintains a stronger price trend over the long term but a weak trend in the short and medium terms, with a moderate quality score. Additional information is available here.
Tesla
- Tesla Inc. (NYSE:TSLA) declined by 0.94% after Morgan Stanley downgraded it to equal-weight, citing high valuation.
- It maintains a stronger price trend over the short, medium, and long term, with a moderate growth ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here.
Paramount Skydance
- Paramount Skydance Corp. (NASDAQ:PSKY) was up 1.72% after it launched an all-cash tender offer to acquire Warner Bros. Discovery Inc. (NASDAQ:WBD) for $30 per share, valuing the company at $108.4 billion. This outbid Netflix Inc.‘s (NASDAQ:NFLX) offer.
- PSKY maintained a weaker price trend over the short, medium, and long terms, with a solid value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Cues From Last Session
Information technology stocks bucked the overall market trend to close higher on Monday, while communication services, materials, and consumer discretionary shares recorded the biggest losses.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -0.14% | 23,545.90 |
| S&P 500 | -0.35% | 6,846.51 |
| Dow Jones | -0.45% | 47,739.32 |
| Russell 2000 | -0.02% | 2,520.98 |
Insights From Analysts
Based on the “Comerica Economic Weekly,” the bank's outlook focuses on a cooling economy and an imminent shift in monetary policy, though the report does not explicitly predict stock market valuations.
Central to their economic forecast is the expectation of a rate reduction, as “Comerica Economics forecasts for the Federal Open Market Committee (FOMC) to cut the federal funds target a quarter of a percentage point” at the year’s final meeting.
However, long-term guidance may remain ambiguous, with the report noting that “The Fed will likely be tight-lipped about the outlook for rates in 2026 given conflicting views among FOMC members.”
They also anticipate the Fed will “signal measures to support short-term funding markets” following recent signs of tight liquidity.
The economic backdrop appears increasingly fragile. Comerica observes that recent data “generally point to a weaker job market,” highlighting a decline in private payrolls and rising job cuts.
Furthermore, the manufacturing sector “contracted for a ninth consecutive month in November.” Despite this slowing activity, inflation pressures persist, as “food and energy costs rose notably in September.”
See Also: How to Trade Futures
Upcoming Economic Data
Here's what investors will be keeping an eye on Tuesday;
- November’s NFIB optimism index data will be out by 6:00 a.m., and the delayed October Job openings report will be released by 10:00 a.m. ET.
Commodities, Gold, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 0.02% to hover around $58.87 per barrel.
Gold Spot US Dollar rose 0.31% to hover around $4,203.79 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.13% lower at the 98.9630 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.96% lower at $90,167.15 per coin.
Asian markets closed lower on Tuesday, except Japan's Nikkei 225 index. China’s CSI 300, South Korea's Kospi, India’s NIFTY 50, Hong Kong's Hang Seng, and Australia's ASX 200 indices fell. European markets were mixed in early trade.
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