Stocks Decline Before US November Employment Data Release

Market Performance: Major U.S. stock indexes closed lower on Monday, with the S&P 500 hitting a 2-week low and the Nasdaq 100 a 2.5-week low, influenced by concerns over AI spending and a drop in energy stocks due to falling crude prices.

Economic Indicators: Mixed economic data was reported, including a contraction in the Dec Empire manufacturing survey and a rise in the Dec NAHB housing market index, while weaker-than-expected Chinese economic news raised concerns about global growth.

Interest Rates and Fed Comments: Dovish comments from Fed officials suggested a less restrictive monetary policy, supporting T-note prices despite a steepening yield curve, while the markets anticipate upcoming economic reports, including nonfarm payrolls and CPI.

Stock Movements: Notable stock movements included declines in cryptocurrency-exposed stocks and energy producers, while some companies like Immunome and Bristol-Myers Squibb saw gains following positive news or upgrades from analysts.