Stock futures are pointing to a higher open for major indexes on the final day of the year, as the market looks to recover from two straight sessions of hefty losses.
Futures tied to the Dow Jones Industrial Average were up 0.2% about an hour before Tuesday’s opening bell, while those linked to the S&P 500 and Nasdaq added 0.3%. U.S. stocks have stumbled to close out the year, putting the S&P 500 and Dow on track to post declines for the month.
Despite the sluggish performance over the past few days, the major indexes have posted sizable gains for the year. Heading into Tuesday, the Nasdaq Composite is up 30% in 2024, while the S&P 500 and Dow have advanced 24% and 13%, respectively.
Large-cap technology stocks, which have led the recent declines, were higher across the board in premarket trading Tuesday. Shares of EV maker Tesla (TSLA) were up 1.7%, while (AAPL), Nvidia (NVDA), Microsoft (MSFT), Alphabet (GOOGL), Amazon (AMZN) and Meta Platforms (META) inched higher. Apple is on the verge of becoming the first company to ever have a market value of $4 trillion.
Shares of software maker MicroStrategy (MSTR), which is one of the world’s largest holders of bitcoin, were up nearly 5% as the digital currency was moving higher this morning. The stock, which was added to the Nasdaq 100 last week, has gained nearly 400% this year.
Bitcoin was at $95,600 in recent trading, up from an overnight low of $91,700.
The yield on 10-year Treasurys, which correlates with market expectations about where interest rates are headed, was at 4.52%, down from 4.55% late yesterday.
Gold futures were up slightly at $2,625 an ounce, while WTI crude oil futures were little changed.