Here Are Monday's Top Wall Street Analyst Research Calls: Airbnb, Akamai, Applied Materials, CoreWeave, CrowdStrike, Datadog, NetFlix, Snowflake, and More

"The futures are trading lower on Monday morning after a strong finish to the week on Friday, completing a winning week for investors as all three of the major indices closed at all-time highs. The news that Jay Powell, the Chairman of the Federal Reserve, is under criminal investigation by the Department of Justice is being cited as the reason for the weakness in the futures. The Dow Jones Industrial Average closed at 49,504, up 0.48%."

"At the same time, the S&P 500 was last seen at 6,966, up 0.65%. The tech-heavy Nasdaq was the big winner Friday, closing at 23,671, up 0.82%. Positive economic data points, a decent non-farm payroll report on Friday that showed unemployment had dropped, alleviating fears that the Federal Reserve would have to resort to drastic near-term rate cuts. While the headline employment number was below Wall Street estimates, the unemployment rate declined to 4.4% from 4.6% in November, which was also better than expected."

"This "low-hire, low-fire" scenario suggested a cooling labor market without a sharp downturn, a desirable "Goldilocks" outcome for investors. With fourth-quarter earnings starting this week, the large-cap money center banks will be in the spotlight, as they are among the first to report. Yields were higher across the Treasury, except for the most extended maturities that finished the day up on Friday."

Futures opened lower Monday following a strong finish as all three major indices closed at record highs. Jay Powell is reported to be under a Department of Justice criminal investigation, pressuring futures. Major indices ended Friday higher: Dow 49,504 (+0.48%), S&P 6,966 (+0.65%), Nasdaq 23,671 (+0.82%). Non-farm payrolls showed fewer hires but unemployment fell to 4.4%, indicating a cooling labor market without a sharp downturn. Treasury yields rose broadly with the 30-year at 4.81% and the 10-year at 4.17%. Fourth-quarter earnings and large-cap bank reports are upcoming. Energy prices were mostly higher.

Read at 24/7 Wall St.