US Session: US Мarkets are Еxpected to Оpen Nearly Unchanged on Tuesday

Five Key Things Investors Need to Know Before the US Market Opens

1. Retail Sector in Focus
   Several major retail chains released results this morning, offering a fresh look at consumer spending ahead of Black Friday. The reports follow last week’s series of sector updates.

Latest results:

• Kohl’s – shares jumped over 22% after better-than-expected earnings and the appointment of Michael Bender as permanent CEO.
• Abercrombie & Fitch – premarket gains of 18% following strong results, supported by the Hollister brand.
• Dick’s Sporting Goods – down over 3% after plans to close some Foot Locker stores to boost profits.
• Best Buy – beat expectations and raised its sales forecast, sending shares up 2.5%.
• Alibaba – reported revenue growth in fiscal Q2 thanks to strong cloud growth, with US-traded shares up more than 3% today.

2. AI Sector Shifts Leaders
   Artificial intelligence is on the rise again — but with unexpected leaders. The Nasdaq Composite rose 2.7%, marking its best day since May.

• Broadcom led the S&P 500 with an 11% gain due to its partnership with Alphabet on custom chips.
• Alphabet (Google) also performed strongly, up over 6%, as investors bet on its AI model progress.
• Nvidia – shares fell over 4% after news that Meta is considering using Google chips in its data centers from 2027.

Alphabet is up about 4% this morning.

3. Dropped from Court Program
   Judge Cameron Currie dismissed criminal cases against former FBI director James Comey and New York Attorney General Letitia James.

Reason: Lindsey Halligan, the acting prosecutor handling the charges, was improperly appointed.

The cases were dismissed “without prejudice,” meaning they could be reopened.

This is a setback for President Donald Trump, who had pushed for action against his political opponents. White House spokeswoman Abigail Jackson stated:

“This will not be the final word on this matter.”

4. Next Big Move from Amazon
   Amazon announced plans to invest up to $50 billion to expand its AI and high-performance computing services for US government clients via AWS.

The project, launching in 2026, will add nearly 1.3 gigawatts of capacity. Government clients will gain access to Anthropic’s Claude AI models, Nvidia hardware, and Amazon technologies.

The company also said businesses could test its internet-satellite project, now called Leo (formerly Project Kuiper), which will compete with SpaceX’s Starlink.

5. Strong Year for NHL Franchise Values
   CNBC Sports published new valuations for NHL teams for 2025.

• Average franchise value rose 15% to $2.2 billion thanks to higher media deals.
• Toronto Maple Leafs remain No.1 at $4.3 billion (+8% YoY).
• New York Rangers are second at $3.8 billion (+9% YoY).

US stock futures remained nearly unchanged Tuesday after a strong Wall Street session driven by AI-related company gains and renewed hopes for a Fed rate cut.

Futures for the Dow Jones Industrial Average and S&P 500 traded near yesterday’s levels, while Nasdaq 100 futures fell 0.2%.

Nvidia dropped over 4% after The Information reported that Meta Platforms is considering spending billions on Alphabet AI chips. Alphabet shares rose over 4% as a result.

Monday was a strong session for the three major indexes:

• S&P 500 up about 1.6%
• Nasdaq Composite up 2.7%, its best day since May 12, rebounding after a difficult month for tech.
• Dow Jones added over 200 points, or 0.4%.

Alphabet was a standout, closing up 6.3% with a new all-time high. Chipmaker Broadcom led the S&P 500 with an 11% gain, boosted by the strong link between their businesses in high-performance ASIC chips.

Despite partial recovery from recent sell-offs, the three major US indexes are still on track for a negative month. AI-related stocks have been the main driver of gains this year, but investors are beginning to question tech valuations and whether the market will see a year-end rally or reversal.

• S&P 500 down about 2% in November
• Nasdaq down 3.6%
• Dow Jones down 2.3%

“We’ve seen a strong shake-up starting at the end of October when liquidity began leaving the market,” said Abby Yoder, US equity strategist at JPMorgan Private Bank, on CNBC’s Closing Bell.

“But despite technical pressure on AI and tech stocks, the fundamentals behind the AI story and AI investments remain solid,” she added.
“I think this sets a good foundation for year-end, but investors will be more selective.”

Meanwhile, traders continue to watch any news that could impact the upcoming Fed decision. According to the CME FedWatch Tool, markets are pricing in over an 80% chance of a 25-basis-point rate cut in December.

The probability increased after New York Fed President John Williams said Friday there is room for a rate cut “in the near term.” San Francisco Fed President Mary Daly told the Wall Street Journal Monday that she supports a rate cut due to labor market concerns.