Wall Street Jedi
  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock
No Result
View All Result
Wall Street Jedi
No Result
View All Result
Home Stock

Futures slip, Stellantis CEO resigns – what’s moving markets

by
December 2, 2024
in Stock
0
Futures slip, Stellantis CEO resigns – what’s moving markets
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Investing.com – U.S. futures are slightly lower as the year-end comes into view, U.S. jobs data is in focus this week, Stellantis (NYSE:STLA) CEO resigns abruptly, and Canada promises tougher border controls after Trump’s tariff threat. Here’s your look at what’s moving markets.

1. Futures slip at start of December

US stock futures pointed to a slightly lower open on Wall Street on Monday as the final trading month of the year got underway.

By 04:08 ET (09:08 GMT), the Dow futures contract was down 72 points, or 0.1%, S&P 500 futures dropped 8 points, or 0.1%, and Nasdaq 100 futures were down 21 points, or 0.1%.

The move lower came after U.S. stocks ended on Friday with both weekly and monthly gains, bolstered by a post-election rally following President-elect Donald Trump’s victory.

November saw both the Dow and the S&P 500 post their strongest monthly gains of 2024, with both indices reaching new all-time intraday and closing highs during Friday’s holiday-shortened trading session.

2. Economic data, Fed speakers ahead

Investors are looking ahead to Friday’s all-important U.S. jobs report for fresh insights into how the economy is faring ahead of the Federal Reserve’s December meeting.

Strong economic growth has driven stocks higher all year, despite concerns that inflation could rebound if the central bank lowers rates too far, undoing two years of progress in curbing price pressures.

A repeat of September’s blowout jobs report could disrupt expectations for future Fed rate cuts, threatening to undermine a key support for the stock rally.

Before that, Monday’s economic calendar includes ISM manufacturing activity and a report on construction spending.

Investors will also get a chance to hear from Fed Governor Christopher Waller and New York Fed President John Williams, who are both due to deliver remarks later in the day.

3. Canada promises tougher border controls after Trump tariff threat

Canada has pledged to step up boarder controls after Prime Minister Justin Trudeau met with President-elect Trump, who has promised to slap tariffs on Canadian imports unless Ottawa prevents migrants and drugs from crossing into the U.S.

Canada exports 75% of its goods and services to the U.S., and tariffs would significantly impact its economy.

Trump has promised massive hikes in tariffs on goods coming from Mexico, Canada and China starting on the first day of his administration, in a policy that could see sharp price increases for U.S. consumers.

4. Stellantis CEO resigns

Frankfurt listed shares in Jeep-maker Stellantis NV (ETR:8TI) (NYSE:STLA) tumbled 8% on Monday after CEO Carlos Tavares, resigned abruptly on Sunday, citing “different views” between the executive and the board of directors.

The European-American company has been struggling after slumping sales in North American led the automaker to issue a profit warning on its 2024 results in September.

Stellantis shares have lost around 40% of their value this year, while shares of U.S. rival Ford Motor (NYSE:F) are down 7% this year, while shares in General Motors (NYSE:GM) are up 55%.

Stellantis said in a statement on Sunday that its board, led by Chairman John Elkann, had accepted the CEO’s resignation “with immediate effect” and would establish a new interim executive committee, chaired by Elkann.

5. Oil prices rise

Oil prices rose on Monday, buoyed by strong factory activity in China, the world’s second-largest oil consumer, and escalating tensions in the Middle East as Israel resumed attacks on Lebanon despite a ceasefire agreement.

By 04:08 ET (09:08 GMT), crude oil WTI futures climbed 0.7% to $68.48 a barrel, while the Brent contract rose 0.7% to $72.41 a barrel.

The gains came after both benchmarks posted a weekly decline of more than 3% last week, as concerns over supply risks from the Israel-Hezbollah conflict eased and forecasts pointed to a surplus in supply for 2025, despite expectations that OPEC+ will extend output cuts.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, postponed their meeting to Dec. 5 and are reportedly considering delaying an oil output increase.

This post appeared first on investing.com
Previous Post

Equity fund outflows, excluding ETFs, surge to $7.8 billion: JPM

Next Post

Seeking higher margins, Stellantis CEO Tavares lost some core customers

Next Post
Seeking higher margins, Stellantis CEO Tavares lost some core customers

Seeking higher margins, Stellantis CEO Tavares lost some core customers

  • Trending
  • Comments
  • Latest
American creating deepfakes targeting Harris works with Russian intel, documents show

American creating deepfakes targeting Harris works with Russian intel, documents show

October 23, 2024
Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

Cadence raises midpoint of 2024 profit forecast on robust demand from chip designers

October 28, 2024
Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

Earnings call: Microsoft sees soaring cloud and AI growth in Q1 FY2025

October 31, 2024
Israel stocks lower at close of trade; TA 35 down 0.23%

Israel stocks lower at close of trade; TA 35 down 0.23%

October 6, 2024
Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

0
Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

Retailers scramble to move billions in cargo as East Coast dockworkers prepare to strike

0
PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion

0
East and Gulf coast ports shut down as thousands of workers go on strike

East and Gulf coast ports shut down as thousands of workers go on strike

0
Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 10, 2025
White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

July 10, 2025
Sports executive charged with bid-rigging in Texas arena project

Sports executive charged with bid-rigging in Texas arena project

July 10, 2025
OpenAI to release web browser in challenge to Google Chrome

OpenAI to release web browser in challenge to Google Chrome

July 10, 2025

Recent News

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

Italian chocolate giant Ferrero to buy Kellogg’s Froot Loops maker

July 10, 2025
White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

White House accuses Powell of mismanaging Federal Reserve, citing headquarters renovation

July 10, 2025
Sports executive charged with bid-rigging in Texas arena project

Sports executive charged with bid-rigging in Texas arena project

July 10, 2025
OpenAI to release web browser in challenge to Google Chrome

OpenAI to release web browser in challenge to Google Chrome

July 10, 2025

Disclaimer: WallStreetJedi.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

  • About us
  • Contact us
  • Privacy Policy
  • Terms & Conditions

Copyright © 2025 wallstreetjedi.com | All Rights Reserved

No Result
View All Result
  • News
  • Economy
  • Editor’s Pick
  • Investing
  • Stock

Copyright © 2025 wallstreetjedi.com | All Rights Reserved