Stock market today: Dow, S&P 500, Nasdaq slide, bitcoin plummets in rocky start to December

^IXIC ^GSPC ^DJI

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  Favorable backdrop should enactment stocks further: UBS

  A favorable backdrop should further enactment US equities, said UBS analysts connected Monday.

  “We person highlighted that stocks historically performed champion erstwhile the system is not successful recession and the Fed is cutting involvement rates," Ulrike Hoffmann-Burchardi, CIO Americas and Global Head of Equities, UBS Global Wealth Management, said successful a enactment connected Monday.

  The strategist noted the "latest acceptable of economical information has underscored the favorable situation we are presently in."

  The market-implied probability of a December complaint chopped has climbed to implicit 87%, from beneath 40% conscionable implicit a week ago.

• Apple banal hits intraday high

  Apple (AAPL) banal roseate 0.8% connected Monday afternoon, hitting an intraday precocious of $281.21 per share.

  The world's second-largest institution by marketplace cap, valued astatine implicit $4 trillion, was 1 of the fewer "Magnificent Seven" names successful the greenish connected Monday. Nvidia (NVDA) and Amazon (AMZN) besides rose, up 1% and 0.5%, respectively, portion the remainder of the Magnificent Seven names fell, led by retreats successful Alphabet (GOOG, GOOGL) and Meta (META).

  Shares of the iPhone shaper are inactive lagging the S&P 500 (^GSPC) twelvemonth to date, yielding a 12% summation for the twelvemonth compared to the S&P's 15% gain.

  NasdaqGS - Nasdaq Real Time Price • USD

  As of 3:10:03 PM EST. Market Open.

• RBC raises 12-month S&P 500 people to 7,750 arsenic much Wall Street firms crook bullish connected stocks

  Yahoo Finance's Allie Canal reports:

  Read much here.

• Nvidia banal rebounds successful day trading aft Jensen Huang calls China a 'bonus opportunity'

  Nvidia (NVDA) banal staged a comeback during Monday's trading sessions aft the institution announced a $2 cardinal concern successful Synopsys (SNPS) and pursuing bullish comments by CEO Jensen Huang connected request successful China.

  Shares successful the company, which were down implicit 1% successful aboriginal trading, roseate by astir 1.5% successful the afternoon. The banal moved into the greenish soon aft CEO Jensen Huang remarked connected planetary request successful an interrogation with CNBC.

  "I would similar everybody to conscionable presume that China is simply a bonus accidental successful the future," Huang told CNBC's "Squawk connected the Street" connected Monday. "At the moment, ... request is truly skyrocketing. and implicit the adjacent mates of years, we’ve got a batch of request we person to spell serve. And if China comes along, which I judge is going to beryllium successful the champion involvement of the United States, arsenic good arsenic China and the remainder of the world, that’s going to beryllium a immense bonus accidental for us."

  Huang besides weighed successful connected the company's expanded concern with Synopsys to rotation retired engineering solutions focused connected AI.

  "This is simply a immense deal," Huang said. "The concern we’re announcing contiguous is astir revolutionizing 1 of the astir compute-intensive industries successful the world, plan and engineering."

  NasdaqGS - Nasdaq Real Time Price • USD

  As of 3:10:03 PM EST. Market Open.

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  US manufacturing assemblage contracts for ninth consecutive period amid conditions 'more trying' than COVID

  The US manufacturing assemblage contracted for the ninth consecutive period successful November, according to information released Monday by the Institute for Supply Management.

  The Manufacturing PMI registered astatine 48.2 for November, against a speechmaking of 48.7 successful October, arsenic the Trump administration's tariff policies continued to roil a assemblage that imports a ample magnitude of materials. Readings beneath 50 bespeak a contraction, portion those supra 50 bespeak an expansion.

  The industrials sector, which has risen healthily connected the year, fell by astir 1.6% implicit the past month.

  "At immoderate fixed point, commercialized with our planetary partners is clouded and difficult. Suppliers are uncovering much and much errors erstwhile attempting to export to the U.S. — earlier I adjacent person the accidental to import," 1 responsive to the ISM's monthly survey said.

  "Conditions are much trying than during the coronavirus pandemic successful presumption of proviso concatenation uncertainty."

  Index readings for caller orders, employment, supplier deliveries, and backlog of orders fell successful the month, dragging the wide standing down adjacent arsenic different metrics specified arsenic production, prices, and imports expanded.

  The ISM noted that earthy materials, including aluminum, copper, earthy gas, and a handbasket of captious minerals, among others, person each gotten much costly connected the month, portion electrical components and uncommon world metals stay successful abbreviated supply.

  Labor was besides noted arsenic being successful abbreviated supply.

  "Business conditions stay brushed arsenic a effect of higher costs from tariffs, the authorities shutdown, and accrued planetary uncertainty," different survey responsive said.

• Michael Burry says Tesla is 'ridiculously overvalued,' slams Musk wage package

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  Bitcoin tumbles to $84,000 arsenic losses accelerate, crypto stocks besides get hit

  Bitcoin (BTC-USD) tumbled much than 7% connected Monday, on with crypto-related stocks, casting uncertainty connected a year-end rally contempt increasing prospects of a Federal Reserve involvement complaint cut.

  The world's largest cryptocurrency fell from astir $91,000 connected Friday to $84,000 connected Monday, implicit concerns that Japan could rise involvement rates. This sparked fears that investors who had borrowed inexpensive Japanese yen to bargain assets similar US stocks and bitcoin mightiness unreserved to reverse those trades and merchantability cryptocurrencies and equities.

  The past clip this unwind happened successful August 2024, bitcoin plunged 18% successful a fewer days, noted Nic Puckrin, concern expert and co-founder of The Coin Bureau.

  "Now that past is repeating itself, it’s omniscient to hole for much volatility," said Puckrin, highlighting that the crisp driblet past twelvemonth was followed by a betterment and caller highs.

  CCC - CoinMarketCap • USD

  85,707.84

  -5,861.00

  (-6.40%)

  As of 8:07:00 PM UTC. Market Open.

  Still, bitcoin exchange-traded funds (ETFs) posted their second-worst month, with $3.5 cardinal successful outflows. The token is present down much than 30% from its October all-time precocious supra $126,000, and it precocious failed to interruption past the $92,000 level.

  "While conditions tin displacement quickly, a sustained rally inactive appears improbable successful the adjacent term, particularly earlier year-end. But 2026 whitethorn contiguous a precise antithetic setup," said a 10X Research lawsuit enactment connected Monday.

  Bernstein analysts noted they are "still looking for wide signs for bitcoin to bottommost out."

  The token's "price enactment suggests anemic marketplace sentiment, which has impacted integer plus equities," wrote expert Gautam Chhugani successful a enactment connected Monday morning.

  Crypto-related stocks similar Strategy (MSTR) sank 10%, portion trading level Coinbase (COIN) dropped by 5% and Robinhood (HOOD) slid 4%.

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  Cyber Monday income expected to emergence 6.3% from a twelvemonth ago, Adobe Analytics says

  Consumers are expected to walk a grounds $14.2 cardinal connected Cyber Monday, up 6.3% from past year, per Adobe (ADBE) Analytics.

  As user assurance deed its lowest since April and shoppers interest astir the labour market, they're seeking retired mostly pricer goods similar electronics, apparel, and furnishings connected the last time of a deal-filled weekend.

  Adobe said consumers are expected to crook to bargain now, wage aboriginal outgo methods to instrumentality vantage of the deals. Today alone, Adobe predicts that consumers volition walk $1 cardinal utilizing the flexible outgo method. That would beryllium the largest azygous time connected record.

  As shoppers look to people last-minute deals, they're expected to walk the astir betwixt 8 p.m. and 10 p.m. ET Monday. The anticipation is that $16 cardinal volition beryllium spent each minute.

  This comes aft a grounds cyber weekend. On Saturday and Sunday, consumers spent a grounds $11.8 cardinal online combined. On Friday, Americans spent that overmuch successful 1 time alone, up 9.1% twelvemonth implicit year.

  Plus, retailers similar Walmart (WMT) and Target (TGT) person been ramping up their AI capabilities arsenic consumers usage AI this vacation play to transverse comparison deals, get acquisition ideas, and probe products. Compared to a twelvemonth ago, AI postulation to US retail sites is up 770% from Nov. 1 to Nov. 30.

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  Stocks autumn astatine the unfastened of the archetypal trading league of December

  The large US banal gauges slid connected Monday, putting Wall Street's beardown late-November rebound connected way to deed a velocity bump connected the archetypal trading time of December.

  The tech-heavy Nasdaq Composite (^IXIC) led the mode down, losing astir 1% astatine the unfastened earlier paring losses. Meanwhile, the generalist S&P 500 (^GSPC) gave up astir 0.6%, and the bluish chip-loaded Dow Jones Industrial Average (^DJI) shed 0.4%.

  Nasdaq GIDS - Free Realtime Quote • USD

  23,277.31

  -88.38

  (-0.38%)

  As of 3:10:03 PM EST. Market Open.

  ^IXIC ^GSPC ^DJI

  Most of the "Magnificent Seven" megacap stocks pulled back, with Meta (META) losing implicit 1%, and Alphabet (GOOG) giving up astir arsenic much.

  Bitcoin continued to fall, plummeting astir 6% to beneath $85,000 a token to widen a weeks-long slide, earlier rebounding to recross the $86,000 mark.

• Barrick banal rises arsenic institution explores IPO of North American assets

  Barrick Mining Corporation (B) said Monday that it's exploring an IPO of its North American golden assets, sending shares of the Canadian miner up 3% up of the opening bell.

  Barrick said it would support a important controlling involvement successful the caller institution should it rotation disconnected its subsidiary arsenic a publically traded entity.

  The caller institution would power Barrick’s interests successful Nevada Gold Mines and the Pueblo Viejo excavation successful the Dominican Republic, which are some associated ventures with Newmont (NEM), arsenic good arsenic Barrick’s wholly owned Fourmile golden find successful Nevada. Newmont banal besides roseate successful premarket trading.

  The announcement comes aft activistic capitalist Elliott Investment Management reportedly built a sizable involvement successful the institution successful November and pushed for a breakup. In September, Mark Hill took implicit arsenic Barrick's CEO, arsenic rising costs successful its North American mines and the institution remained locked successful a quality with Mali's government.

• Synopsys banal jumps connected quality of Nvidia investment

  Nvidia (NVDA) announced Monday that it invested $2 cardinal successful Synopsys (SNPS) banal to deepen the companies' partnership.

  Nvidia shares fell 1.5% successful premarket trading arsenic a risk-off temper swept markets, portion Synopsys banal jumped implicit 7% connected the news. If that holds done the day, Synopsys is connected way to hitch distant astir fractional of its year-to-date losses.

  NasdaqGS - Nasdaq Real Time Price • USD

  As of 3:10:03 PM EST. Market Open.

  NVDA SNPS

  Synopsys, which designs tools and offers services to companies, is partnering with Nvidia connected engineering and selling activities, including compute-intensive applications, precocious agentic AI engineering, and associated go-to-market initiatives, according to a property release.

  Nvidia paid $414.79 per stock for Synopsys's communal stock. The AI titan is coming disconnected a unsmooth November, with shares down 11% implicit the past month. Year to date, however, Nvidia banal has returned 31%.

• Crypto stocks bruised arsenic bitcoin dips beneath $85K, ether sells off

  Crypto stocks took a deed successful premarket trading connected Monday arsenic a sell-off successful cryptocurrencies gained steam.

  Strategy (MSTR), which helped pioneer the bitcoin treasury exemplary for businesses, declined by implicit 5%. Year to date, the Michael Saylor-led steadfast is down 38%. Meanwhile, Coinbase (COIN) dropped by 5%, and Robinhood (HOOD) slid 4%.

  The stocks fell successful sympathy with cryptocurrencies, which sold disconnected crossed the board.

  Bitcoin (BTC-USD) fell much than 6% and concisely traded beneath $85,000. Ether (ETH-USD) shed astir 7% to commercialized astir $2,800 per token. Ripple's XRP (XRP-USD) dropped 7% to astir $2.

  Selling accelerated successful the aboriginal greeting hours aft the DeFi level Yearn Finance said it experienced an "incident" successful its yETH LST stableswap pool. Yearn posted connected X that the hack led to a $9 cardinal loss.

• Treasurys autumn arsenic Japanese sell-off ripples done enslaved markets

  Bloomberg reports:

  Treasurys started the post-Thanksgiving week connected the backmost ft arsenic a descent successful Japanese indebtedness spilled implicit into enslaved markets globally.

  The output connected US 10-year notes (^TNX) roseate 3 ground points to 4.04%, pursuing a leap successful the Japanese equivalent to the highest since 2008 connected the imaginable of a Bank of Japan interest-rate hike aboriginal this month. That besides pushed up rates connected bonds from Europe to New Zealand.

  Read much here.

• 

  Good morning. Here's what's happening today.

• Stocks drift backmost towards grounds highs arsenic the last period of 2025 gets underway: What to ticker this week

  Yahoo Finance's Jake Conley takes a look astatine the cardinal events for markets this week.

  He reports:

  Read much here.

• 

  Premarket trenders: Coupang, New Fortress Energy and Strategy

  South Korea's largest e-retailer Coupang Inc. (CPNG) banal fell 8% successful premarket trading connected Monday pursuing a monolithic information leak. This latest interruption caps what is acceptable to beryllium a grounds twelvemonth for online leaks successful the country, highlighting weaknesses successful Seoul’s cyber defenses.

  New Fortress Energy (NFE) banal soared 22% earlier the doorbell connected Monday. The liquefied earthy state supplier, which has faced questions implicit its rising debt, had a declaration approved with Puerto Rico regulators precocious Friday.

  Strategy (MSTR) stock fell 4% during premarket trading connected Monday. The bundle company, which is 1 of the largest investors of bitcoin has suffered owed to the crypto selloff.

• Silver jumps to widen its record-beating rally

  Silver (SI=F) jumped astir 2% to a caller all-time highest connected Monday arsenic traders eyed choky proviso and optimism for a US involvement complaint chopped successful December.

  The metallic was trading supra $58 an ounce, having surged astir 6% connected Friday to a grounds high.

  Bloomberg reports:

  Read much here.

• 'I don't cognize if we'll get that Santa rally': Why Wall Street says December whitethorn interruption from its accustomed strength

  Yahoo Finance's Allie Canal reports:

  Read much here.

• Oil gains arsenic traders oculus risks from onslaught connected cardinal Black Sea terminal, Venezuela tensions

  Bloomberg reports:

  Oil roseate arsenic a cardinal pipeline linking Kazakh fields to Russia’s Black Sea seashore halted loading aft 1 of its 3 moorings was damaged successful an onslaught implicit the weekend.

  Brent (BZ=F) traded supra $63. The Caspian Pipeline Consortium carries astir of Kazakhstan’s crude exports, which person averaged 1.6 cardinal barrels a time truthful acold this year.

  Ukraine hasn’t commented connected the incidental astatine the CPC facility, though it confirmed abstracted attacks connected an lipid refinery and tankers implicit the weekend.

  The incidental came aft the OPEC+ producer-group led by Saudi Arabia reiterated a three-month program to halt output hikes successful the archetypal 4th of adjacent year. OPEC+ again said the determination reflected weaker seasonal marketplace conditions. A large surplus is expected successful the aboriginal portion of adjacent year.

  Oil posted a 4th consecutive monthly driblet successful November arsenic expectations for a swelling surplus weighed connected the outlook, with the International Energy Agency forecasting a grounds glut successful 2026. Still, geopolitical tensions from Russia to Venezuela — wherever President Trump warned airspace should beryllium considered closed implicit the weekend, adhd to the bullish risks for prices.

  Read much here.

• ChatGPT was unveiled 3 years ago, kicking disconnected the AI revolution. For investors, it did adjacent more.

  Yahoo Finance's Myles Udland reports:

  The three-year day of ChatGPT's merchandise was connected Sunday.

  For investors and the firm world, a batch much than 3 years' worthy of alteration has followed.

  Stock prices person soared. Workflows person changed. Staffing needs person been radically altered. A monolithic home infrastructure buildout is underway.

  The system has go progressively K-shaped, with the region widening betwixt the fiscal haves and have-nots successful some the firm and user realms.

  SNP - Free Realtime Quote • USD

  As of 3:10:03 PM EST. Market Open.

  The transformed authorities of the system and markets is singular connected its ain merits. But against the backdrop of the markets from which this artificial quality roar emerged, the turnaround is adjacent much impressive.

  Simply put, ChatGPT didn't conscionable catalyze the biggest technological roar successful a generation; it offered a catalyst to crook astir 1 of the lousiest marketplace environments investors had been dealing with since the fiscal crisis.

  ... And it is with this discourse that the uncertainty which has seemed to canine this bull tally becomes much explicable.

  Read much here successful this takeaway from Morning Brief.