US Stock Market Today: S&P 500 Futures Steady as Rate Cut Hopes Offset Factory Gloom

The Morning Bull - US Market Morning Update Tuesday, Dec, 2 2025

US stock futures are pointing slightly higher this morning, with the S&P 500 expected to open up by around 0.01%. The biggest force driving sentiment right now is the steady yield on 10-year US government bonds, hovering near 4.04%. This means borrowing rates for everything from mortgages to business loans are staying elevated, a direct result of global worries about interest rates and the possibility that the Federal Reserve may cut rates soon. Meanwhile, a key economic scorecard for US factories, the manufacturing PMI, slipped to 48.2 in November. That shows the manufacturing sector is still shrinking, though there are early signs that business confidence is picking up. On one hand, investors are hopeful that talk of interest rate cuts will give the market a lift; on the other hand, concerns about weak demand and rising costs in American factories keep appearing. The main question for investors today is whether steady rates and hints of easier money will outweigh the risks from another month of manufacturing slowdown. This puts the spotlight on interest rate-sensitive sectors such as banks and real estate, as well as industrial companies watching demand for their products closely.

See which undervalued stocks based on cash flows are set to thrive if rates remain high or if cuts occur soon.

Top Movers

• Nebius Group (NBIS) jumped 5.57% following a strong day for growth-focused tech stocks.
• CoreWeave (CRWV) gained 5.39% as investor interest remained strong in AI infrastructure providers.
• Synopsys (SNPS) climbed 4.85% after announcing an expanded partnership and $2 billion investment from NVIDIA.

Is CoreWeave still a smart investment or just hype? Read our most popular narrative and get all the answers you need.

Top Losers

• Bloom Energy (BE) declined by 9.44%.
• AST SpaceMobile (ASTS) dropped by 6.39%.
• W. R. Berkley (WRB) slid by 6.06%.

Look past the noise - uncover the top narrative that explains what truly matters for Bloom Energy's long-term success.

On The Radar

Technology earnings and retail updates will shape sentiment this week, as software giants and discounters unveil quarterly results.

• Tech Earnings: Salesforce (CRM) & Snowflake (SNOW) report Q3 results after the bell on Tuesday, spotlighting AI-driven growth and enterprise cloud demand trends.
• Discount Retail: Dollar Tree (DLTR) issues Q3 results pre-market Wednesday, providing key insights on consumer spending and value channel momentum.
• Cybersecurity: CrowdStrike Holdings (CRWD) delivers Q3 results late Tuesday, revealing progress on customer growth and expanding profit margins.
• Storage & Chips: Pure Storage (PSTG) and Marvell Technology (MRVL) will both update investors Tuesday on enterprise IT spending and AI hardware demand.
• Discount Retail: Dollar General (DG) reports Thursday, offering a deep dive into inventory trends and holiday season strategy for the discount giant.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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