Wall Street is trading with a mixed sign this Monday, with the Nasdaq leading the gains until reaching a new all-time high, supported by the Tesla rises. After ending a month of strong gains in November, investors are focusing their attention on the situation in the labor market. Yet, and «in the middle of the expectation about the Christmas rallyinvestors have shown certain doubts about whether artificial intelligence trends will maintain the growth rate in 2025because the latest results of companies in the sector have shown some deterioration, within the large numbers. In the United States, investors are more optimistic about the policies that Trump may carry out, especially for the sectors that would be protected by tariffs,» says Javier Cabrera, market analyst. In fact, and despite the fact that US stocks have soared in November, with the Dow Jones and the S&P 500 having their best month of the year, Christopher Wood, strategist at Jefferies, highlights that market may peak before Trump's inauguration next January 20. «Financial markets can become very extreme at turning points and you have to ask yourself if that point is getting closer,» he comments.
THE LABOR MARKET, PROTAGONIST OF THE WEEK
Regarding the economic agenda, the employment will be the great protagonist with the publication of the November official report (Friday), which is expected to add 200,000 new payrolls after the previous month showed the creation of only 12,000 jobs due to the impact of the hurricanes. They will also announce the October JOLTS Job Openings and Labor Turnover Survey (Tuesday), the private employment data prepared by the consulting firm ADP (Wednesday) and weekly unemployment claims (Thursday). All this will be decisive for the Federal Reserve (Fed) rate decision ahead of its meeting on December 18 and for which the market discounts, with a probability of 61.7%, according to the CME Group's FedWatch tool, which will carry out a new cut of 25 basis points. «Strong data will no doubt reignite discussions on whether or not to cut rates«, while the weak figures will increase the appetite for another 25 basis point cut from the Fed,» says Ipek Ozkardeskaya, senior analyst at Swissquote Bank. In this sense, investors will remain very attentive to the words of Jerome Powellpresident of the organization, who will speak on Wednesday at a symposium in New York in search of any clue about the future movements of the US central bank. But first, in this session the operators had an appointment with the November Manufacturing PMI and ISMwhich have improved in the eleventh month of the year, although still they remain in contraction territory.
BIDEN PARDONS HIS SON
At the political level, the president of the United States, Joe Bidenhas granted the pardon his son Hunter Bidena decision that marks a radical change from his previous position of not using his executive authority to intervene in the case. «I believe in the judicial system, but This process has been infected by politics, resulting in injustice«Biden said in a statement. «I hope Americans understand why a father and a president would make this decision.» Hunter Biden was to be sentenced on December 12 for weapons charges and on December 16 tax evasionafter pleading guilty in September.
COMPANIES AND OTHER MARKETS
At the business level, Intel rises more than 3% after communicating the retirement of its CEO, Pat Gelsinger. His departure is effective from Sunday, December 1 and puts an end to a difficult mandate of almost four years. It has also been in the news teslawhich advances more than 3% in the stock market after Stifel has raised its target price to $411 per share from the previous $287 per title, while reiterating its recommendation of 'buy' the value in the midst of his confidence in the advances in artificial intelligence (AI) of the company and in autonomous driving. For its part, the actions of Super Micro Computer soar 30% after the company reported that the special committee appointed to investigate concerns raised by EY, the firm's former auditor, has concluded its review without finding «evidence of fraud or misconduct«. In other markets, oil West Texas rises 1.25% ($68.84) and the Brent advances 1.09% ($72.61). For his part, the euro depreciates 0.77% ($1.0493), and the ounce of gold loses 0.25% ($2,674). Furthermore, the 10-year American bond yield is revalued to 4.226% and the bitcoin drops 0.58% ($96,493).