5 things to know before the stock market opens Tuesday, December 17
Here are five key things investors need to know to start the trading day:
1. Tech drives
2. Fall from grace?
People visit the Nvidia booth during the Apsara Conference 2024 at Yunqi Town in Hangzhou, Zhejiang Province of China, on Sept. 19, 2024.
Long Wei | VCG | Getty Images
What goes up must come down. While the Nasdaq Composite hit another record, Nvidia fell into correction territory Monday, ending the day about 11% off its closing high of $148.88 reached last month. The chipmaker, which has become a favorite AI-related trade, is still up 166% this year. Shares were down again in premarket trading. Fellow chipmaker Broadcom, meanwhile, hit a new high Monday, gaining about 11% and hitting a market cap above $1 trillion on increased price targets from Wall Street. Keith Lerner, co-chief investment officer at Truist, said the market is realizing there are other AI beneficiaries besides Nvidia.
3. Walmart’s watching
Shoppers at the Walmart Supercenter in Burbank during Walmart’s multi-week Annual Deals Shopping Event in Burbank Thursday, Nov. 21, 2024.
Allen J. Schaben | Los Angeles Times | Getty Images
Walmart is giving some of its store employees body cameras, CNBC’s Gabrielle Fonrouge reported. It’s unclear how many locations are using the recording devices, but some stores have signs in front of entrances alerting customers that they have “body-worn cameras in-use.” The nation’s largest non-government employer appears to be using the technology to deescalate tense situations with customers, according to training materials provided to employees. Read more about the body camera effort here.
4. Fed ahead
Federal Reserve Chairman Jerome Powell speaks during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City.
Michael M. Santiago | Getty Images
5. Tick tock
The logos of the social networks X (Twitter), Bluesky, WhatsApp, Threads, TikTok, and Facebook are displayed on the screen of a smartphone in Reno, United States, on November 20, 2024.
Jaque Silva | Nurphoto | Getty Images
— CNBC’s Brian Evans, Samantha Subin, Ari Levy, Gabrielle Fonrouge, Steve Liesman and Dan Mangan contributed to this report.
