Updated Tue, Nov 26 20242:39 AM EST

Stock futures flat after Dow closes at another record: Live updates

Samantha Subin

Traders work on the floor of the New York Stock Exchange during afternoon trading on Aug. 2, 2024.

Michael M. Santiago | Getty Images

Stock futures traded flat early Tuesday, after the Dow Jones Industrial Average closed at a new record.

Futures tied to the Dow were up 23 points, or 0.05%. S&P 500 futures traded around the flatline, and Nasdaq 100 futures inched up 0.1%.

On Monday evening, President-elect Donald Trump called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said he would impose a tariff of up to 20% on all imports, and an additional duty of at least 60% on products from China.

https://www.art19.com/shows/4420ff26-c17c-4c28-a654-a663d4bcbf60/episodes/75535201-5bd9-45a6-858b-11f6af496515/embed

Stocks are coming off an action-packed session fueled by Trump’s new Treasury secretary pick, hedge fund executive Scott Bessent. The gains helped refuel the belief that the postelection rally is back in full gear following a brief breather.

The 30-stock Dow popped roughly 440 points, or about 1%, to a new record close during regular trading. The S&P 500 gained 0.3% to notch a new all-time intraday high, while Nasdaq Composite edged up about 0.3%. The Russell 2000 hit a new intraday high — its first record since 2021 — as investors piled into small caps.

Meanwhile, Treasury yields fell as traders took a favorable view of Bessent leading the Treasury department. Many investors view the hedge fund manager as a champion of financial markets and the economy given his background, and as someone who could potentially counteract some of Trump’s aggressive trade aspirations.

“These policies may take more time to play through into the market actually get enacted,” NewEdge chief investment officer Cameron Dawson told CNBC’s “Closing Bell” on Monday of potential new policies from the Treasury pick. “It’s definitely a question mark of how much impact he can have in the short run as we round the year.”

The U.S. market is closed Thursday for the Thanksgiving holiday and set to close early Friday, with volume expected to remain light. Ahead of the holiday, investors are looking ahead to October’s personal consumption expenditure price index.

7 Hours Ago

Trump vows an additional 10% tariff on China, 25% tariffs on Canada and Mexico

President-elect Donald Trump plans to raise tariffs by an additional 10% on all Chinese goods coming into the U.S., according to a post Monday on his social media platform Truth Social.

The post immediately followed one in which Trump said his first of “many” executive orders on Jan. 20 would impose tariffs of 25% on all products from Mexico and Canada.

Trump is set to be inaugurated as the next U.S. president on Jan. 20.

Read the full story here.

—Evelyn Cheng

5 Hours Ago

Gold plunges 3% as Trump Treasury pick and potential Israel-Hezbollah truce fuel risk-on mood

Gold prices lost about 3% after President-elect Donald Trump picked Scott Bessent as his Treasury secretary, with reports of Israel and Hezbollah nearing a ceasefire deal also eroding the safe-haven metal’s appeal.

Spot prices of the yellow metal dropped 3.44% to $2,616.80 per ounce, according to data from Factset. Gold futures on the New York Mercantile exchange were trading at $2,628.5.

“The ~$100 wipeout in Gold today is as severe in size & pace as the post U.S. election selloff on Nov 6th,” MKS Pamp’s head of metals strategy, Nicky Shiels said.

Read the full story here.

— Lee Ying Shan

7 Hours Ago

Rumble shares rise after company announces bitcoin treasury strategy

Rumble, a video platform focused on conservatives, said Monday evening that it will begin allocating a portion of its excess cash reserves to bitcoin and making purchases of up to $20 million in the cryptocurrency.

Shares rose nearly 4% in extended trading.

The move puts Rumble in the same company as MicroStrategy, which began employing an aggressive bitcoin-buying strategy in 2020 and has primarily traded as a proxy for the crypto’s price since then. That stock is up more than 500% this year. Meanwhile, bitcoin has gained 118%.

For more, read our full story here.

— Tanaya Macheel

7 Hours Ago

Trump calls for 25% tariffs on Canada and Mexico

President-elect Donald Trump pledged he would impose a 25% tariff on products coming into the U.S. from Canada and Mexico, according to a Monday post on his social media platform Truth Social.

“On January 20th, as one of my many first Executive Orders, I will sign all necessary to charge Mexico and Canada a 25% Tariff on ALL products coming into the United States,” Trump said in his Truth Social post.

He also pledged “an additional 10% tariff” on Chinese goods. The president-elect has already proposed imposing a duty as high as 20% on all imports, including levies exceeding 60% on products from China.

Read more about the tariffs from CNBC’s Evelyn Cheng here.

—Darla Mercado

8 Hours Ago

Stocks on the move during overnight trading

Here are the stocks on the move in extended trading:

• Zoom Communications — The maker of video calling software is lower by 4%. Zoom topped Wall Street quarterly estimates and posted fiscal fourth-quarter adjusted earnings per share guidance that was roughly in line with estimates.
• Kohl’s — The retail stock dropped 3% after announcing its CEO would step down in January. Ashley Buchanan, who currently leads crafts store owner The Michaels Companies, is set to replace current CEO Tom Kingsbury.
• Agilent Technologies — Shares slumped 1% after the laboratory equipment company issued adjusted earnings guidance for the full year and current quarter that fell short of Wall Street’s estimates, per LSEG.

Read the full list here.

— Samantha Subin

9 Hours Ago

Stock futures open slightly higher

Stock futures opened slightly higher Monday.

Futures tied to the Dow Jones Industrial Average added 45 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures each rose about 0.15%.

— Samantha Subin

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