U.S. stock futures dipped slightly on Tuesday after Wall Street fell on the first trading day of December following gains in the prior five sessions. Data on Monday showed U.S. manufacturing shrank for the ninth month in November, with import tariffs continuing to drag on activity. Investors now look ahead to key releases this week, including the delayed PCE Price Index, the Fed’s preferred inflation gauge. Focus is also on the Fed’s December 9–10 policy meeting, with over 85% of bets pointing to a 25bps rate cut. Markets also assessed the possibility of a leadership change at the Fed after President Trump said he had selected a replacement for Chair Powell. White House economic adviser Kevin Hassett is widely viewed as the leading candidate. Strategy fell 3.3% after announcing it raised USD 1.44 billion, denominated in dollars, not bitcoin, to fund dividends on preferred shares and service debt. Meanwhile, retailers, including Walmart, gained as the holiday shopping season ramped up.
