Stock Market Live December 2: S&P 500 (SPY) Rebounding with Tech

"At the moment, S&P 500 futures are up about 17 points. The SPDR S&P 500 ETF ( SPY) is up about $1.56. Meanwhile, the Dow is up 58, as the Nasdaq tacks on 108 points. Fueling upside, Bitcoin is finally pushing higher after. After plummeting from about $124,310, it appears to have found support at $87,389."

"Plus, markets are optimistic that the Federal Reserve will cut interest rates again next week. In fact, markets are pricing in 87.6% odds of a cut, which is up significantly from 50-50 odds. We also have to remember that December is typically a strong month for the broader markets. The S&P 500, for example, averages a gain of more than 1% in December."

Major indices attempted a rebound after a pullback, with S&P 500 futures up about 17 points, SPY rising roughly $1.56, the Dow up 58 and the Nasdaq up 108. Bitcoin showed signs of recovery, finding support near $87,389 after a plunge from about $124,310. Markets priced in roughly 87.6% odds of a Federal Reserve rate cut next week, up significantly from near even odds. December historically provides seasonal strength for stocks, with the S&P 500 averaging more than 1% gains. Significant snowfall across parts of the U.S. could raise heating demand and lift natural gas prices, and Wells Fargo reiterated an overweight on Amazon while raising its price target.

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