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Workers are processing chips at a workshop of an optoelectronic technology company in Huai'an, China, on May 11, 2024.
Costfoto | Nurphoto | Getty Images
Japan's Nikkei 225 was set to rebound after leading losses in Asia on Monday, with the futures contract in Chicago at 39,870 and its counterpart in Osaka trading last at 39,670 against the index's previous close of 39,307.05.
Australia's S&P/ASX 200 started the day up 0.31%, on pace for a fourth day of gains.
In contrast, futures for Hong Kong's Hang Seng index last traded at 19,664, pointing to a weaker open compared to the HSI's close of 19,688.29.
Hong Kong-listed tech stocks will be in the spotlight after the U.S. Defense Department added Chinese tech giant Tencent Holdings and battery maker CATL to a list of firms it calls "Chinese military companies."
Tencent American depositary receipts fell almost 8% overnight.
In the U.S., the S&P 500 advanced 0.55% and climbed alongside the Nasdaq, which gained 1.24% on the back of the tech rally.
However, the Dow Jones Industrial Average lagged, reversing earlier gains and falling 0.06%.
— CNBC's Pia Singh and Tanaya Macheel contributed to this report.
CNBC Pro: Here are Europe's top ETFs that outperformed in 2024 — including some that gained 30%
U.S. stocks ended 2024 on a high, with the S&P 500 finishing last year with gains of over 23%.
While funds tracking the major indices will have logged similar returns, a handful of actively managed ETFs marketed in Europe outperformed, including JPMorgan's US Research Enhanced Index Equity ETF and Invesco's Quantitative Strategies ESG Global Equity Multi-Factor ETF.
CNBC Pro screened 321 ETFs in Europe that are invested in equities, fixed income, or commodities, and are not leveraged or produced inverse returns.
Two of the ETFs returned 30% last year.
CNBC Pro subscribers can read more here.
— Ganesh Rao
Oil and gas exploration stocks head for 10th straight advance in longest rally in almost five years
The SPDR S&P Oil & Gas Exploration & Production ETF traded higher on Monday, rising as much as 2% intraday, putting the ETF on pace for its 10th straight gain for the first time since April 2020.
The 55-stock XOP is up nearly 10% over the past 10 sessions, its best 10-day period since mid-October 2023. It was recently just up about 0.1%.
The longest rally ever for XOP was an 11-day advance that ended in November 2010. The exchange traded fund now has roughly $2 billion in assets, according to FactSet data. Its five largest positions are Antero Resources, APA Corp., Diamondback Energy, Occidental Petroleum and Coterra Energy.
Although XOP remains below its April 2024 52-week high, the ETF is moving above its 50-day moving average for the first time since early December.
SPDR S&P Oil & Gas Exploration & Production ETF over past year.
— Scott Schnipper, Nick Wells
Trump reportedly eyes narrower tariff plans, auto stocks jump
U.S. President-elect Donald Trump attends Turning Point USA's AmericaFest in Phoenix, Arizona, U.S., December 22, 2024.
Cheney Orr | Reuters
President-elect Donald Trump is reportedly planning to narrow his tariff plans to target only certain important sectors, instead of all imports, the Washington Post reported, citing people familiar with the matter.
Two weeks before he takes White House, Trump is discussing plans to pare back some of the sweeping, universal tariffs he vowed to implement on the campaign trail, the Post reported. Instead, he is aiming to impose duties on sectors that are viewed critical to national or economic security, the newspaper reported, adding that the discussions are not final.
Shares of automakers jumped in premarket in a relief rally. Ford and General Motors climbed more than 2% each, while Stellantis NV surged 7% in early trading.
— Yun Li
Chip stocks rise on Foxconn's record fourth quarter
SMH 1 year chart
— Fred Imbert
English (US)