Here are the most important news items that investors need to start their trading day:
1. Taking stock
The final two days of the trading year will help to determine just how strong 2024 is for stocks. U.S. futures traded lower Monday following a losing session for the major averages on Friday. Entering the week, the S&P 500 and Dow Jones Industrial Average have climbed 25% and 14%, respectively, on pace for their best years since 2021. The tech-heavy Nasdaq has gained 31%. Markets will close Wednesday for New Year’s Day. Follow live market updates.
2. Jimmy Carter dies
Former U.S. President Jimmy Carter speaks to the congregation at Maranatha Baptist Church before teaching Sunday school in his hometown of Plains, Georgia on April 28, 2019. Carter, 94, has taught Sunday school at the church on a regular basis since leaving the White House in 1981.
Paul Hennessy | NurPhoto | Getty Images
Former U.S. President Jimmy Carter died at age 100. Carter, the 39th president, served one term after his election in 1976. A peanut farmer who became governor of Georgia before becoming president, Carter faced challenges including stagflation and the Iran hostage crisis during his time in the White House. He had a prolific life after the presidency, campaigning around the world for human rights and working to build homes for the needy. Stock markets typically close for a day of mourning after a president’s death.
3. South Korea crash
A Jeju Air flight crashed in South Korea, killing 179 people. President Choi Sang-mok ordered an emergency safety inspection of the country’s airline system. Officials at South Korea’s transport ministry also said they would carry out a “comprehensive special inspection” of the Boeing B737-800 aircraft, the model involved in the accident. Boeing shares dropped following the news. It is still unclear what caused the crash.
4. Google gears up
Sundar Pichai, CEO of Google and Alphabet, speaks on artificial intelligence during a Bruegel think tank conference in Brussels, Belgium, on Jan. 20, 2020.
Yves Herman | Reuters
Google CEO Sundar Pichai is bracing for a critical year in 2025. Earlier this month, he told employees “the stakes are high” as the company prepares to face tougher competition and more regulatory skepticism around the world. His comments follow a year in which Google made strides to keep up in the AI race and officials in both the U.S. and Europe moved to tamp down what they called anticompetitive practices. Pichai acknowledged to employees that the company faces “scrutiny,” which he said comes with Google’s “size and success.”
5. Trump’s TikTok take
President-elect Donald Trump wants to pump the brakes on a TikTok ban. He asked the Supreme Court to suspend implementation of a law that would ban the video sharing app in the U.S. on Jan. 19 if its Chinese parent company, ByteDance, does not sell the platform to an American company. The top U.S. court is hearing arguments about the law on Jan. 10. Trump previously supported a TikTok ban before reversing course.
– CNBC’s Samantha Subin, Martin Steinberg, Yeo Boon Ping, Jenni Reid, Jennifer Elias and NBC News’ Daniel Barnes and Raquel Coronell Uribe contributed to this report.
