Opening Comment — Monday, December 08, 2025
DJIA: 47,954.99, up 104.05
S&P 500: 6,870.40, up 13.28
NASDAQ: 23,578.13, up 72.99
Stocks higher to start off week
Stock futures are mostly higher Monday morning as investors await the Federal Open Market Committee’s (FOMC’s) policy rate decision on Wednesday, along with tomorrow’s job openings data. As of 7:17 AM ET, the Dow is little changed, while the S&P 500 is up 0.1%. The Nasdaq 100 is increasing 0.2% relative to fair value on the GLOBEX.
U.S. equities were higher on Friday as the core Personal Consumption Expenditures Deflator, the Federal Reserve’s (Fed) preferred gauge of inflation, rose 0.2% month-over-month (MOM) and 2.8% year-over-year (YOY) in September, both in line with expectations. Personal income and personal spending for September showed increases of 0.4% and 0.3% MOM, respectively. Meanwhile, the preliminary reading of December consumer sentiment from the University of Michigan increased more than anticipated to 53.3. The Dow was up 0.2%, while the tech-heavy Nasdaq Composite rose 0.3%. The S&P 500 increased 0.2% with five of 11 sectors finishing in positive territory. The Communication Services sector was the top performer, rising 1.0%, while the Utilities sector was the bottom performer, falling 1.0%.
On the data front, the New York Fed will release their November Survey of Consumer Expectations, which includes a measure of one-year ahead inflation expectations.
Across the pond, European stocks are mixed in mid-day trading as Germany’s industrial production registered a greater-than-expected increase of 1.8% MOM and unexpectedly increased 0.8% YOY in October. Meanwhile, the eurozone’s Sentix Investor Confidence Index edged up slightly in December.
Overnight in Asia, stocks were mixed as Japan’s finalized reading of third-quarter gross domestic product (GDP) showed a larger-than-expected annualized decline of 2.3% quarter-over-quarter, while the GDP deflator rose by 3.4% YOY, overshooting forecasts. The country’s labor cash earnings rose 2.6% YOY in October. Meanwhile, China’s trade surplus significantly widened in November, following lower import growth than expected and a stronger-than-forecasted increase in exports.
In FOREX trading, the U.S. dollar is little changed ahead of this week’s FOMC meeting.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.0% lower at $59.46/barrel.
In the metals complex, gold is 0.3% higher at $4,212.20/ounce.