Show Notes
US stock futures are sliding as markets kick off December in risk-off mode. The S&P 500 (^GSPC) enters the month after barely securing a seventh straight monthly gain, while crypto leads the selloff. Bitcoin (BTC-USD) fell below $86,000, dragging Ether and Solana lower as thin liquidity and ETF outflows fueled renewed volatility. Strategists note Bitcoin’s December pattern tends to be flat-to-consolidating, with near-term ranges now pegged between $70,000 and $100,000 amid ongoing selling pressure .
Markets are also watching the Federal Reserve. Traders are pricing in a 25 bp rate cut at the December 10 meeting, while Washington prepares for a major announcement: President Trump says he has selected the next Fed Chair and will reveal the choice “soon.” Kevin Hassett — the president’s top economic adviser — is widely viewed as the frontrunner, sparking debate over how dovish leadership could reshape rate expectations and the US dollar .
Investors will finally receive delayed economic data this week, including the Fed’s preferred PCE inflation report, postponed during the shutdown. Bond yields are rising, with the 10-year climbing to 4.06% and the 30-year to 4.72%, even as the dollar weakens — a rare divergence tied to Japanese rate-hike speculation and shifts in global capital flows .
Holiday shopping is also in focus this Cyber Monday. Adobe expects $14.2 billion in online spending today, with peak buying between 8–10 PM where consumers could spend $16 million per minute. Early Black Friday data shows shoppers remain highly deal-driven, with steady demand for electronics, furniture, and apparel. This week brings earnings from Macy’s (M), Dollar General (DG), and Dollar Tree (DLTR) — key reads on how both high-income and low-income consumers handled the shutdown period .
In trending tickers, Synopsys (SNPS) jumps after Nvidia (NVDA) announced a $2 billion investment in the chip-software leader; MicroStrategy (MSTR) unveiled a $1.4 billion dollar reserve to avoid selling Bitcoin during downturns; and Accenture (ACN) launched a broad partnership with OpenAI to accelerate enterprise adoption of generative AI systems .
Takeaways:
Stocks fall as December starts in risk-off mode; Bitcoin slides below $86K
Traders price in a 25 bp December cut as Trump prepares to announce the next Fed Chair
Delayed PCE inflation data arrives this week; yields rise even as the dollar weakens
Cyber Monday set for $14.2B in sales; shoppers chase deals and big-ticket items
Synopsys surges on Nvidia’s $2B bet; MicroStrategy builds dollar reserve; Accenture expands OpenAI partnership
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