5 Things to Know Before the Stock Market Opens

Investopedia
2024-12-30

U.S. stock futures are ticking lower after markets ended last week on a sour note and Treasury yields remained elevated; Boeing (BA) stock is falling in premarket trading after one of its 737-800 planes crashed in South Korea; Tesla (TSLA) shares are moving lower ahead of its deliveries report later this week; November pending home sales are expected to slow from the pace set in the prior month; and bitcoin-related stocks MicroStrategy (MSTR), Coinbase Global (COIN), Riot Platforms (RIOT), and MARA Holdings (MARA) are lower as the cryptocurrency hovers below $94,000. Here's what investors need to know today.

1. US Stock Futures Point Lower to Start Holiday-Shortened Week

U.S. stock futures are pointing lower as investors prepare for another holiday-shortened week following a disappointing ending to the prior week. Nasdaq futures are 0.2% lower after the tech-focused index shed 1.5% Friday. Dow Jones Industrial Average and S&P 500 futures are down by a similar amount after posting larger declines to close last week. The dip comes as investors begin to lose faith in a so-called Santa Claus rally. Yields on the 10-year Treasury note are down slightly but continue to hover around 4.6%. Bond trading will end early Tuesday and stock and bond markets will be closed Wednesday for New Year's Day.

2. Boeing Stock Lower After South Korean Airline Crash

Boeing (BA) stock is down about 3% in premarket trading after one of its 737-800 planes crashed in South Korea, killing 179 of the 181 people on board the Jeju Air flight. The crash comes as the U.S.-based aircraft maker has suffered a string of setbacks this year, including a machinists strike and a door plug detach during an Alaska Airlines flight. The company was still struggling to recover from fatal 737 MAX crashes in 2018 and 2019, and its shares have fallen 30% this year despite showing some recovery in December.

3. Tesla Stock Lower as Investors Look Ahead to Deliveries Data

Tesla (TSLA) stock is 2% lower in premarket trading after declining the prior two sessions as investors look ahead to the electric vehicle (EV) maker's fourth-quarter delivery report later this week. Analysts anticipate that Tesla will post deliveries of 510,000 units, which would represent 10% growth from the prior quarter and 5% year-over-year improvement. Since the Nov. 5 presidential election, Tesla shares have surged more than 70% on expectations that CEO Elon Musk's ties to President-elect Donald Trump will benefit the automaker. The stock closed Friday at $431.66, down nearly 12% from its all-time high of $488.54 set on Dec. 18.

4. Pending Home Sales Data Highlights Housing, Construction Reports This Week

Investors will still be following some economic data during this shortened trading week, with several pieces of housing and construction data on tap. The National Association of Realtors (NAR) Pending Home Sales Index is expected to have risen by 0.7% in November when that data is released at 10 a.m. ET today, less than October's better-than-expected 2% jump. Investors will also get readings of the S&P Case-Shiller Home Price Index on Tuesday and construction spending data on Thursday.

5. Crypto Stocks Lower as Bitcoin Hovers Below $94,000

Bitcoin (BTCUSD) continues to trade below $94,000 after the cryptocurrency pulled back from the $100,000 level last week. Going into 2025, some analysts are optimistic that bitcoin could top $200,000 as it gets positive treatment from the incoming Trump administration. However, the recent price swoon has also affected cryptocurrency-affiliated companies. Shares of bitcoin buyer MicroStrategy (MSTR) are 2% lower in premarket trading after declining 3% Friday, while those of bitcoin miners Riot Platforms (RIOT) and MARA Holdings (MARA) and crypto exchange Coinbase Global (COIN) also are down.

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