Opening Comment — Tuesday, December 02, 2025
DJIA: 47,289.33, down 427.09
S&P 500: 6,812.63, down 36.46
NASDAQ: 23,275.92, down 89.77
Stocks higher following yesterday’s losses
Stock futures are mostly higher Tuesday morning as investors look ahead to tomorrow’s release of November services purchasing managers’ indexes (PMIs) and employment data. As of 7:35 AM ET, the Dow is little changed, while the S&P 500 is up 0.2%. The Nasdaq 100 is increasing 0.3% relative to fair value on the GLOBEX.
U.S. equities were lower on Monday as the Institute for Supply Management’s manufacturing PMI for November unexpectedly declined to 48.2, while the prices-paid component rose, defying projections. Meanwhile, S&P Global’s finalized manufacturing PMI for November was revised slightly upward to 52.2. The Dow was down 0.9%, while the tech-heavy Nasdaq Composite fell 0.4%. The S&P 500 decreased 0.5% with eight of 11 sectors finishing in negative territory. The Energy sector was the top performer, rising 0.9%, while the Utilities sector was the bottom performer, falling 2.4%.
Across the pond, European stocks are higher in mid-day trading as the U.K.’s Nationwide House Price Index for November registered greater-than-expected increases of 0.3% month-over-month (MOM) and 1.8% year-over-year (YOY). The eurozone’s preliminary Consumer Price Index (CPI) for November fell 0.3% MOM but rose 2.2% YOY. Meanwhile, the bloc’s unemployment rate held steady at 6.4% in October.
Overnight in Asia, stocks were mostly higher as South Korea’s CPI in November registered a smaller-than-expected decrease of 0.2% MOM, while rising more than anticipated by 2.4% YOY. Meanwhile, Australia’s building approvals declined by 6.4% MOM in October. Japan’s consumer confidence ticked up in November.
In FOREX trading, the U.S. dollar is slightly higher as investors look ahead to tomorrow’s U.S. data releases.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.4% lower at $59.11/barrel.
In the metals complex, gold is 0.6% lower at $4,207.39/ounce following a strengthening U.S. dollar.