Stocks: Momentum fading after record run

  @CNNMoneyInvest December 3, 2013: 7:28 AM ET
sp 500 futures 650

Click on chart to track premarkets


Is the bull getting tired?

It's just the second trading day of December and investors already look wary of letting the rampage run to the end of the year.

U.S. stock futures were modestly lower ahead of the opening bell Tuesday.

The S&P has managed gains in December for 24 of the past 30 years, but with the index up 27% so far in 2013 investors are ready to take a break.

"It's likely that markets will be in a holding pattern as we head into the business end of the week that starts with ADP employment tomorrow, the ECB on Thursday and ending with payrolls on Friday," wrote Deutsche Bank analyst Jim Reid, in a market report.

U.S. stocks slipped Monday as disappointing Black Friday sales weighed on retailers, and an upbeat manufacturing report revived talk that the Federal Reserve could begin scaling back its massive stimulus program as early as this month.

Related: Fear & Greed Index gets greedy

Friday brings the publication of the monthly jobs report which investors hope will send a much clearer signal as to the likely next move by the Fed.

There's little corporate or economic news expected Tuesday but the world's major automakers will release their monthly sales figures over the course of the day.

Sony (SNE) said that it sold 2.1 million Playstation 4s worldwide as of Dec. 1.

European markets were outpacing Wall Street losses with dismal morning trading. France's CAC 40 down 1.7%.

Asian markets ended mixed, with Japan's Nikkei advancing 0.6% as the yen weakened. Shares in Shanghai joined the rally, adding 0.6% while Hong Kong's Hang Seng declined by 0.5%. To top of page

Join the Conversation
Sponsored by
Index Last Change % Change
Dow 16,397.52 -27.33 -0.17%
Nasdaq 4,086.97 0.74 0.02%
S&P 500 1,861.70 -0.61 -0.03%
Treasuries 2.70 0.06 2.35%
Data as of 12:22pm ET
Company Price Change % Change
Bank of America Corp... 16.22 0.09 0.56%
Facebook Inc 59.49 -0.23 -0.39%
General Electric Co 26.74 0.62 2.37%
Micron Technology In... 23.44 0.96 4.27%
Huntington Bancshare... 9.14 -0.17 -1.77%
Data as of 12:07pm ET
Overnight Avg Rate Latest Change Last Week
30 yr fixed4.41%4.44%
15 yr fixed3.33%3.31%
5/1 ARM3.34%3.55%
30 yr refi4.39%4.41%
15 yr refi3.31%3.30%
View rates in your area
Find personalized rates:
Rate data provided
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.