5 things to know before the stock market opens Monday

5 things to know before the stock market opens Monday


Here are the most important news items that investors need to start their trading day:

1. Dow drags

Major U.S. stock indexes enjoyed another strong stretch last week – except for the Dow Jones Industrial Average. The S&P 500 and Nasdaq Composite both had their third straight positive week, climbing 1% and 3.3%, respectively, to close at new records on Friday. But the Dow slid 0.6% for the week. November job growth came in better than expected Friday, and data due Wednesday could show that inflation is still higher than the Fed prefers. Even so, traders overwhelmingly expect the central bank to cut rates again at its Dec. 17 and 18 meeting. Follow live market updates.

2. Powell plans

U.S. Federal Reserve Chair Jerome Powell speaks during a press conference following a two-day meeting of the Federal Open Market Committee on interest rate policy in Washington, U.S., November 7, 2024. 

Annabelle Gordon | Reuters

Jerome Powell’s job may be safe when President-elect Donald Trump takes office next month. When asked if he plans to end the Federal Reserve chair’s term before it ends in May 2026, Trump told NBC’s Kristen Welker, “I don’t.” Powell, who has said it would not be legal for Trump to try to push him from the post early, has stressed he would not leave his post before his term expires. Trump, who appointed Powell to lead the central bank in 2018 before President Joe Biden nominated him for another term in 2022, has contended the president should have more say over interest-rate policy.

3. Assad falls

The Assad dictatorship in Syria has seemingly collapsed after decades of rule by the family. Rebel forces took the Syrian capital of Damascus on Sunday, sending President Bashar al-Assad fleeing. The rebel coalition was led by the Islamist militant group Hayat Tahrir al-Sham, which the U.S. and U.N. Security Council have designated a terrorist organization. “We declare the city of Damascus free from the tyrant Bashar al-Assad,” Hassan Abdul-Ghani, senior HTS commander, said in a post on WhatsApp. “To the displaced people around the world, Free Syria awaits you.” The opposition now has the complex task of putting together a new government after years of the Assad regime using deadly force to put down dissent.

4. Corporate world shudders

The logo of UnitedHealth appears on the side of one of its office buildings in Santa Ana, California, on April 13, 2020.

Mike Blake | Reuters

The killing of United Healthcare CEO Brian Thompson last week sent shockwaves through corporate America and has companies questioning even the most routine executive responsibilities. “Everyone’s scrambling to say, ‘Are we safe?'” said Chuck Randolph, chief security officer for Ontic, an Austin, Texas-based provider of threat management software. After Thompson was gunned down on a Manhattan sidewalk heading to the company’s investor day, businesses worry their executives face a higher risk of violence. More companies have moved to seek security for their leaders, while at least one other has made an in-person investor event virtual.

5. Subway signing

Baseball’s biggest free agent prize is heading to the New York Mets, according to multiple reports. Slugger Juan Soto will go from the Bronx to Queens on a 15-year, $765 million contract, the outlets said. That’s the biggest contract ever in professional sports. The 26-year-old Soto, a four-time All-Star who helped to carry the New York Yankees to a World Series appearance last year, will join a Mets team that lost the National League Championship Series to the eventual champion Los Angeles Dodgers.

– CNBC’s Sarah Min, Ruxandra Iordache, Hugh Son and NBC’s Katherine Doyle and David K. Li contributed to this report.



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