US Session: U.S. Мarkets are Еxpected to Оpen Flat after a Slight Decline in the Major Indexes

Here are five key themes investors are watching at the start of the trading day:

1. Trump defends his policies
U.S. President Donald Trump is defending his economic and domestic policy decisions in an address from the White House, as public approval weakens. He is directing criticism at his predecessor Joe Biden, saying he inherited “chaos” that he is now fixing.

Trump is forecasting the largest tax refund season on record, supported by the tax and spending package passed over the summer. The president also announced a so-called “military dividend” — a one-time payment of $1,776 to around 1.45 million service members, with a total cost of roughly $2.5 billion.

The speech comes as Trump’s approval ratings decline on issues such as inflation and immigration, while Republicans seek to retain their congressional majorities ahead of the 2026 midterm elections. Meanwhile, an extension of Obamacare subsidies is heading for a vote, and FBI Deputy Director Dan Bongino announced he will step down in January.

2. The return of CPI data
U.S. consumer inflation data for November will be released at 8:30 a.m. Eastern Time and will be the first report since the end of the record-long government shutdown.

Economists expect annual inflation to reach 3.1%, with core inflation — excluding food and energy — around 3.0%. The Bureau of Labor Statistics noted that the report will not include monthly changes for November, as October data were unavailable due to the canceled report at that time.

3. Time for a market rebound?
U.S. stock futures are modestly higher ahead of the inflation release. Shares of Micron Technology are jumping about 10% in premarket trading after better-than-expected earnings and guidance. Darden Restaurants is also moving higher following improved sales outlooks.

Despite this, the major indexes ended the previous session with a fourth consecutive decline. Oracle shares fell sharply after reports that a key investor withdrew from a major data center project. Meanwhile, Trump Media & Technology Group announced a more than $6 billion merger with a nuclear fusion technology company, signaling expansion beyond social media.

4. A strong IPO market
The initial public offering market remains active. Shares of medical supplies giant Medline surged 41% on their first day of trading on Nasdaq. The company debuted at $35 per share, above its initial IPO price of $29, and ended the session near $41.

This marks the largest IPO in the U.S. this year and the biggest listing since 2021, despite market volatility driven by trade tariffs and the prolonged U.S. government shutdown.

5. A key Delta executive steps down
Delta Air Lines President Glen Hauenstein will retire at the end of February. He played a crucial role in turning the airline into one of the most profitable players in the industry by focusing on customers willing to pay more for premium travel experiences.

However, some of these strategies have begun to face pushback from customers, including tighter access rules for the popular SkyClub lounges, which the company has recently reinforced.

Wall Street awaits CPI
U.S. stock futures rose on Thursday as investors waited for inflation data that could serve as a key catalyst for markets.

S&P 500 futures are up about 0.4%, Nasdaq 100 futures are gaining nearly 0.8%, and Dow Jones Industrial Average futures are higher by around 70 points.

Shares of Micron Technology are surging in premarket trading after the company reported better-than-expected revenue and earnings for its first fiscal quarter and issued strong guidance for the current period.

Markets are awaiting the release of the U.S. Consumer Price Index for November. This will be the first public inflation report since the end of the government shutdown. According to a Dow Jones survey, economists forecast annual inflation of about 3.1%.

The gains follow a difficult session marked by sharp declines in leading semiconductor companies tied to the artificial intelligence theme. The S&P 500 and Dow Jones posted their fourth straight day of losses, while the Nasdaq Composite lagged the most, falling 1.8%.

During regular trading, Oracle shares dropped more than 5% after the Financial Times reported that a major investor pulled out of the company’s $10 billion data center project in Michigan.

Concerns over high capital expenditures for large-scale data centers spread across the market, putting pressure on other chipmakers. Broadcom shares fell sharply, while Nvidia and Advanced Micro Devices also posted losses.

Despite the recent pullback in technology stocks, the sector remains on track to finish 2025 with gains of around 19%.

According to market strategist Ryan Detrick of Carson Group, the current decline is more of a release of pressure following strong gains. In his view, some “air is coming out of the balloon,” but overall the market remains stable for now.