Dow, S&P 500, Nasdaq futures muted as rocky month draws to an end, before CME glitch halts trading

Market Overview - US stock futures showed muted performance as a holiday-shortened week and a downbeat month came to a close, with trading halted on Friday due to a data center glitch at the Chicago Mercantile Exchange (CME) [1][2] - The CME has begun to gradually restore operations after a significant outage that disrupted trading in various markets, including US Treasurys and crude oil [2][6] Trading Performance - Before the trading freeze, futures on the Dow Jones Industrial Average and S&P 500 were both up 0.1%, while contracts on the Nasdaq 100 rose 0.2% [2] - Individual stocks like Alphabet and Nvidia saw slight increases in premarket trading, indicating some resilience despite broader market concerns [2] Economic Indicators - Stocks rebounded sharply earlier in the week as traders increased bets on a potential interest rate cut by the Federal Reserve in December, which is less than two weeks away [3] - However, Wall Street indexes are facing a losing month, with a notable decline in megacap tech stocks as investors reassess the profitability of AI-driven businesses [4] Analyst Predictions - As November concludes, analysts are releasing stock market predictions for the upcoming year, with Deutsche Bank setting a target for the S&P 500 at 8,000 by the end of 2026, while HSBC and JPMorgan expect it to hover around 7,500 [5] Commodity Market - Gold is on track for its fourth consecutive monthly gain, driven by expectations of another interest rate cut in the US, with prices nearing $4,160 an ounce, up more than 2% for the week [11][12] - The halt in futures trading at CME affected liquidity in precious metals markets, leading to wider-than-usual bid-ask spreads [11] Company-Specific Updates - Oracle's stock fell over 1% due to concerns flagged by Morgan Stanley regarding credit markets, while Alphabet's stock rose 1% as attention shifted to its AI initiatives [9] - Strategy's stock rose 2% despite a recent 5% decline over the past five days, as Bitcoin prices rebounded above $90,000 [10]