Stock Futures Muted Ahead of Early Market Closure

After a positive start to the holiday week powered by tech gains, Dow Jones Industrial Average (DJIA) futures are trading slightly below breakeven this morning. S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are modestly higher, as investors hold out hope for a Santa Claus rally. Durable goods orders and new home sales readings are due out before markets close at 1 p.m. ET to observe Christmas. Markets will also be closed tomorrow.

Continue reading for more on today's market, including: 

• Senior Vice President of Research Todd Salamone is eyeing key short-term levels.
• Bullish coverage pushes semiconductor stock higher.
• Plus, American Airlines grounds flights; Nordstrom's buyout deal; and RUM's bull gap.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.3 million call contracts and 1.1 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.48 and the 21-day moving average remained at 0.61.
2. The shares of American Airlines Group Inc (NASDAQ:AAL) are down 0.8% in premarket trading, after the company grounded flights across the nation due to a technical issue. Flights have already resumed operations. AAL is up over 25% this year.
3. Nordstrom Inc (NYSE:JWN) stock is up 0.3% ahead of the open, amid news the luxury retailer will go private following a $6.25 billion buyout deal with its founding family and Mexican retailer El Puerto de Liverpool. JWN is up 31% year-to-date.
4. Rumble Inc (NASDAQ:RUM) stock is 0.2% lower ahead of the open, cooling from yesterday's 81.2% gain. This bull gap came after the online video platform scored a $775 million investment from Tether. RUM has added a whopping 190% in 2024.
5. Key economic indicators slated for release amid holiday closures.

Asian Markets React to BoJ's Hawkish Stance

Asian markets were a mixed bag today. The Nikkei gave back 0.3%, even after an outsized move from Honda (HMC) and Bank of Japan (BoJ) meeting notes showed a hawkish monetary policy stance. South Korea’s Kospi finished marginally lower, after consumer confidence for December fell to two-year lows. Amongst the gainers, Hong Kong’s Hang Seng added 1.1%, while China’s Shanghai Composite tacked on 1.3%.

In Europe amid a holiday-shortened session, London’s FTSE 100 and French CAC 40 added 0.4% and 0.1%, respectively. The German DAX is up 0.2% at last check.