Nasdaq 100: Tesla’s Gains and Intel’s Shake-Up Shape Premarket Trends

Why Are Markets Pausing After a Stellar November?

U.S. equity futures show mixed movements Monday as investors digest the best month of 2024 for major indexes. After record-setting gains in November, traders shift focus to new economic data, corporate developments, and potential policy signals.

Daily E-mini Nasdaq 100 Index Futures

At 13:48 GMT, Dow futures are trading 45029.00, down 26.00 or -0.06%. The S&P 500 Index is at 6050.75, down 0.75 or -0.01% and Nasdaq futures are trading 21025.00, up 31.50 or +0.15%.

Can Tech News Keep Driving Premarket Action?

Daily Tesla, Inc

Nasdaq 100 futures are rising, buoyed by Tesla’s 2% premarket gain following Roth MKM’s upgrade to “buy.” Analysts highlighted Elon Musk’s political connections as a catalyst, along with Tesla’s AI-driven potential. Stifel further supported the stock, raising its price target to $411 and emphasizing the value of Tesla’s self-driving technology.

Daily Intel Corporation

Intel also made headlines as CEO Pat Gelsinger announced his retirement, effective Dec. 1. The news comes amid a challenging year for the company, with shares down 52% YTD. These tech-related developments could influence sector-wide sentiment in the coming sessions.

Could Economic Data Shift Market Sentiment?

Investors are closely watching Monday’s manufacturing and construction spending reports, which could provide early insights into economic activity for December. A string of labor market data later this week is also anticipated to shape market expectations. Speeches by Federal Reserve officials Christopher Waller and John Williams may further influence interest rate outlooks and market direction.

Will Retail Sales Boost Consumer Confidence?

Black Friday data revealed a 3.4% increase in U.S. retail sales compared to last year, with online spending soaring 14.69%. In-store sales showed modest growth of 0.7%. Mastercard highlighted that consumers are prioritizing promotions, reflecting strategic but robust holiday spending. Retail-related stocks, such as Gap, have already seen positive momentum, rising 4.7% after a JPMorgan upgrade.

Are Corporate Shake-Ups Raising Red Flags?

Stellantis shares dropped 9% after CEO Carlos Tavares resigned over strategic disagreements with the board. The company announced interim leadership as it begins a search for a new CEO, set to conclude by late 2025. Similarly, Intel’s leadership transition adds another layer of uncertainty in a volatile corporate environment.

What Role Will Bitcoin and Commodities Play?

Daily Bitcoin (BTCUSD)

Bitcoin retreated to $95,000 after nearing $99,000 last week, reflecting a cautious risk-off sentiment. Meanwhile, steel producers saw mixed premarket action, with Cleveland-Cliffs gaining over 1% following a bullish rating from Goldman Sachs, citing favorable trade policies under President-elect Donald Trump.

Where Could Markets Head from Here?

Despite Monday’s slow start, the short-term outlook remains cautiously bullish as investors build on November’s gains. Tech and small-cap stocks could lead further advances, supported by strong corporate news and consumer spending trends. However, Federal Reserve commentary and labor data later in the week may temper optimism. Traders should monitor key sectors and macro indicators for decisive signals.

More Information in our Economic Calendar.