Here are five key things investors need to know to start the trading day:
1. Light, but bright
Tech stocks continued to help the markets rise on Monday. The S&P 500 added 0.73% for the day, while the tech-heavy Nasdaq Composite climbed 0.98%. That rise came as Tesla and Meta Platforms added more than 2% and Nvidia rose more than 3%. The Dow Jones Industrial Average, meanwhile, had a smaller gain, adding just 66.69 points higher, or 0.16%. Trading was light Monday, which is expected to continue today. The market will close at 1 p.m. for the Christmas Eve holiday. Follow live market updates.
2. Family matters
Shoppers carry bags at Broadway Plaza in Walnut Creek, California, US, on Monday, Dec. 16, 2024. The Bureau of Economic Analysis is scheduled to release personal spending figures on December 20.
David Paul Morris | Bloomberg | Getty Images
Department store operator Nordstrom is going private. The company agreed to a buyout deal worth roughly $6.25 billion from members of the founding Nordstrom family and the Mexican department store El Puerto de Liverpool. The family will have majority ownership of the private company, with 50.1%, while Liverpool will own 49.9%. Common shareholders, meanwhile, will receive $24.25 in cash for each share of Nordstrom common stock they hold.
3. Making a list
U.S. President-elect Donald Trump looks on during Turning Point USA’s AmericaFest at the Phoenix Convention Center on December 22, 2024 in Phoenix, Arizona.
Rebecca Noble | Getty Images
From Silicon Valley to the White House: President-elect Donald Trump is tapping tech executives to join his upcoming administration. Scott Kupor and Sriram Krishnan, high-profile leaders at tech venture capital firm Andreessen Horowitz, were both recently selected for key roles, following a slew of other nominations. The moves come as Tesla CEO Elon Musk has emerged as a close advisor for Trump after being one of his biggest campaign donors.
4. Cost concerns
An injection pen of Zepbound, Eli Lilly’s weight loss drug, is displayed in New York City on Dec. 11, 2023.
Brendan McDermid | Reuters
The FDA said tirzepatide, the main ingredient in Eli Lilly’s weight loss drug Zepbound, is no longer in shortage. That means patients will likely be unable to access compounded — or cheaper, off-brand — versions of the drug that compounding pharmacies were legally allowed to make during the shortage. Six patients told CNBC that they’re worried about the price of the brand-name medicine. “I am extremely concerned for what it’s going to cost,” said Erin Hunt, 31, a communications analyst based in Maryland. “This medication has literally changed my life.” Read more about how the FDA’s decision will affect patients and compounding pharmacies.
5. Forgoing forgiveness
US President Joe Biden speaks about a ceasefire between Israel and Hezbollah in Lebanon, in the Rose Garden of the White House on November 26, 2024, in Washington, DC.
Saul Loeb | AFP | Getty Images
— CNBC’s Kristian Burt, Annie Palmer, Annika Kim Constantino and Annie Nova contributed to this report.