Here are the key news investors need to start the trading day:
1. Green Christmas
A Christmas tree stands in front of the New York Stock Exchange on the day that US President-elect Donald Trump is expected to ring the opening bell at the NYSE to accept being named Time Magazine's Person of the Year in New York City, New York celebrate. on December 12, 2024.
Adam Gray | Reuters
Investors are hoping stocks will finish the shortened holiday week strong. While trading has been sparse, the three major U.S. averages are all up this week. The S&P 500 increased by 1.8% Dow Jones Industrial Average rose by 1.1% and the Nasdaq Composite increased by 2.3%. This follows a stronger performance from the tech-heavy index over the month. The Nasdaq has gained 4.2% so far in December, while the S&P has gained 0.1% and the Dow has fallen 3.5%. Follow live market updates.
2. Prepare for a decision
A United Steelworkers sign is seen in front of the Great Lakes Works United States steel mill in River Rouge, Michigan, USA, on September 16, 2024.
Rebecca Cook | Reuters
Nippon Steel said it has pushed back the deadline for its $14.9 billion takeover of US Steel as President Joe Biden decides whether to proceed with the deal. The Japanese company changed the acquisition completion date to the first quarter of 2025, from a previous target of the third or fourth quarters of this year. A committee that monitors foreign acquisitions in the U.S. referred the decision on whether to block the deal to President Joe Biden on Monday, giving him 15 days to decide. Biden, the United Steelworkers union and some politicians have expressed concerns about foreign involvement in the company.
3. Vacation credit
Christmas shopping could have long-term consequences for many consumers. According to a LendingTree survey, 36 percent of Americans took on debt this holiday season. The average balance for these people was $1,181, up from $1,028 in 2023. Starting to pay off debt early and renegotiating interest rates are among the ways to reduce holiday debt.
4. The wild year for airlines
Airlines started the year with a torn door panel Boeing airplane during a Alaska Airlines Flight. The headlines didn't let up from there. The JetBlue-Spirit merger was blocked, Spirit filed for bankruptcy protection and a technical breakdown affected travel days. Meanwhile, airlines struggled to show that they were the premium airline. Read more about an eventful year for airlines in 2024 here.
5. Add
Advertising executives expect the market to stabilize next year, particularly among companies that have coveted live sports rights. The global advertising industry is expected to grow 7.7% and exceed $1 trillion in revenue for the first time in 2025, excluding U.S. political ads, according to a recent report from GroupM, WPP's media investment group. However, advertisers may still be selective with their budgets and prioritize live events such as sporting events and awards shows.
—CNBC's Pia Singh, Lorie Konish, Leslie Josephs and Lillian Rizzo contributed to this report.
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