US Stock Outlook: December Jobs Data and Nvidia's Promising Future in AI

US Stock Futures Mixed Ahead of Market Open

On Wednesday morning, US stock futures showed mixed results. The Nasdaq futures fell by 0.18%, while the Dow futures rose by 0.06%, and the S&P 500 futures decreased by 0.05%.

Pre-Market Movements in Tech Stocks

Most major tech stocks were down before the market opened. ASML dropped nearly 2%, TSMC fell over 1%, and companies like Micron, AMD, Google, and Microsoft saw slight declines.

Popular Chinese stocks exhibited mixed performance, with UMC soaring nearly 9%, while JD.com and Alibaba fell over 1%.

Notable Pre-Market Gains

• MicroStrategy (MSTR): Up nearly 4% after MSCI announced it would not remove digital asset treasury companies.
• Ventyx Biosciences (VTYX): Surged over 69% on reports of a potential acquisition by Eli Lilly.
• GameStop (GME): Increased over 6% after announcing a long-term performance award for CEO Ryan Cohen.
• Mobileye Global (MBLY): Rose over 10% following news of a $900 million acquisition of robotics startup MenTee.

Nvidia's Self-Driving Technology Sparks Competition

Nvidia's new self-driving system, "Thor," unveiled by CEO Jensen Huang at CES, is seen as a direct challenge to Tesla and Waymo. Despite this, Tesla's CEO Elon Musk expressed confidence, stating he is not worried about the competition.

Nvidia has partnered with automakers like Lucid, Mercedes-Benz, and BYD, with Mercedes expected to launch a Tesla-like self-driving feature this year. Meanwhile, Tesla's stock fell over 4% on Tuesday.

Wall Street's Confidence in Nvidia

Following Huang's CES speech, major investment firms like Bank of America and Evercore ISI rated Nvidia as a top AI stock for 2026. Bank of America set a target price of $275, while Evercore ISI's Mark Lipacis set a target of $352, citing Nvidia's advantageous position in the AI market.

Storage Chip Price Surge Expected

Citigroup warned of a severe supply shortage in storage chips by 2026, predicting DRAM prices could soar by 88% and NAND prices by 74%. This surge is driven by the increasing demand for AI-related memory.

Upcoming Employment Data and Fed's Rate Decisions

The future of the US job market will significantly influence the Federal Reserve's interest rate adjustments. Key employment data, including the ADP report and JOLTS, will be released this week, providing insights into the labor market's health.

Goldman Sachs Maintains Positive Outlook on Chinese Stocks

Goldman Sachs predicts a 20% increase in the MSCI China Index by the end of 2026, driven by profit growth from AI and other strategic initiatives. The report highlights ten leading Chinese companies, including Tencent and Alibaba, which collectively hold a significant market share.

Morgan Stanley Bullish on Gold Prices

Morgan Stanley has raised its gold price forecast, expecting it to reach $4,800 per ounce by 2026, driven by factors such as the Fed's easing cycle and geopolitical risks. The report emphasizes gold's value as a core safe-haven asset amid economic uncertainties.