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U.S. stock futures are lower ahead of retail sales data and the start of the two-day Federal Reserve meeting; bitcoin (BTCUSD) reaches a new high above $107,000 as MicroStrategy (MSTR) continues to buy the cryptocurrency; Tesla (TSLA) stock adds to its fresh all-time high in premarket trading; Nvidia (NVDA) shares continue to slip after entering correction territory; and Broadcom (AVGO) stock pushes further higher after hitting a record high following its strong earnings report. What investors should know about today.
1. US Stock Futures Point lower Ahead of Retail sales Data and FOMC Meeting
Investors await today’s retail sales figures and prepare for the Federal Reserve rate decision tomorrow. Dow Jones Industrial Average futures are 0.3% lower after the blue-chip index notched its eighth consecutive losing session, its longest losing streak since 2018, while S&P 500 futures are down by a similar amount. Nasdaq Futures have fallen by 0.2%, after the index’s tech-heavy component gained over 1% the previous session and set a record. Gold and Crude futures have fallen by 0.5% each, and the 10-year Treasury yield is currently trading around 4.44%.
2. The Bitcoin Price Hits another High with MicroStrategy’s Portfolio Addition
Bitcoin (BTCUSD), which is a cryptocurrency, has been trading just above the newly set record of $107,000. Investors continue to expect that the Trump Administration will boost the currency further. Investors expect the new administration to create favorable regulations for bitcoin and a strategic bitcoin reserve. MicroStrategy reported $1.5 Billion in new purchases. This brings its bitcoin holdings up to $47 Billion.
3. Tesla stock adds to a new all-time high
Tesla’s (TSLA), stock has risen by about 2.5% before the market opens. Yesterday, Tesla reached a new all-time record high of $463.02 after rising over 6%. Wedbush raised its target price to $515, up from $400. The firm also said that the stock may reach $650 before the end of the year. Tesla shares are up about 85% from the beginning of this year. The gains were largely due to the November 5th election and CEO Elon Musk’s close ties with President-elect Donald Trump.
4. Nvidia Stock Falls Even Further after Entering Correction Territory
Nvidia’s (NVDA), stock has fallen about 1.6% in premarket trade after entering correction territory yesterday. Nvidia stock ended trading Monday at $132.00. That’s 11% less than the record-breaking closing price of $148.88 from Nov. 7, 2011. The slump comes despite positive analysts’ notes, with Bank of America and Bernstein each calling Nvidia a “top pick,” Posting price targets at $190 and $175 respectively.
5. Broadcom shares reach record levels after strong earnings reports
Broadcom’s (AVGO), stock has risen 0.4% more in premarket trade after hitting another record high yesterday. This is a continuation of the gains made following earnings. Bank of America, along with several other analysts, listed Broadcom as one of its six top picks in the semiconductor industry for 2025 on Monday. Stocks are up by about 40% following last week’s better-than expected earnings report.
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