5 Things to Know Before the Stock Market Opens

Investors prepare for a shortened trading week ahead of the national day of mourning for former U.S. President Jimmy Carter; U.S. stock futures are pointing higher after a down week; investors anticipate remarks from Nvidia (NVDA) CEO Jensen Huang; chipmaker stocks are moving higher after Taiwan-based supplier Foxconn reports record revenue on strong AI demand; and shares of Super Micro Computer (SMCI) are rising further in premarket trading after soaring nearly 11% Friday. Here’s what investors need to know today.

1. Investors Await Jobs Data in Memorial-Shortened Trading Week

Investors are preparing for another shortened trading week as markets will be closed Thursday for a national day of mourning for former U.S. President Jimmy Carter. The federal government will also be closed on that day and bond markets may end trading early. Market watchers will get key labor market data this week, including private sector payrolls, initial jobless claims, and the December jobs report. Investors will also be watching for Federal Open Market Committee (FOMC) meeting minutes and remarks from several Fed speakers.

2. US Stock Futures Point Higher After Down Week

U.S. stock futures are pointing higher after the major indexes recorded losses last week despite posting gains Friday. Nasdaq and S&P 500 futures are about 1% and 0.8% higher, respectively, after snapping five-session skids Friday, while Dow Jones Industrial Average futures are 0.4% higher after ending a four-session losing streak in the last session. Bitcoin (BTCUSD) is up 1% to approach $100,000, while yields on the 10-year Treasury note are little changed at around 4.6%. Oil futures are slightly higher while gold futures are little changed.

3. Nvidia CEO Huang to Give CES Keynote Address Today

Investors are anticipating a keynote address from Nvidia (NVDA) Chief Executive Officer (CEO) Jensen Huang at the CES trade show in Las Vegas today. Analysts expect that Huang’s remarks will serve as a potential growth catalyst for the chipmaking giant and focus attention on the company’s Blackwell GPUs, which are used to power generative artificial intelligence (AI) processes like large language models (LLMs). Nvidia stock is up 2% in premarket trading.

4. Record Foxconn Revenue Pushes Chip Stocks Higher

Chipmaker stocks are moving higher in the premarket after Taiwan’s Foxconn, a supplier to several top firms, posted record fourth-quarter revenue on continued demand for AI products. Advanced Micro Devices (AMD) and Micron Technology (MU) shares are up 3% and 4.5%, respectively. Additionally, U.S.-listed shares of Taiwan Semiconductor Manufacturing Co. (TSM) and ASML Holding (ASML), the Dutch company that makes semiconductor-making machinery, are higher by 5% and 6%, respectively.

5. Super Micro Computer Stock Rises Further After Soaring Friday

Shares of Super Micro Computer (SMCI) are up 5% in premarket trading to build on its momentum at the end of the prior trading week. Supermicro’s surge of nearly 11% Friday came as Microsoft (MSFT) announced that it plans to spend about $80 billion this fiscal year on AI data centers, a move that could benefit the server maker through increased partnerships and hardware sales. After tumbling in the latter half of 2024 on concerns that it could be delisted from Nasdaq on accounting issues, Supermicro stock regained momentum to finish the year up 7%. Microsoft shares are 1% higher.