Morning Market Preview — December 17, 2025
U.S. equity futures are mixed this morning as investors position ahead of key macro data and Federal Reserve commentary. Market tone remains constructive but selective, with rates and sector rotation expected to drive price action into the opening bell.
Market Setup
U.S. equity futures are mixed this morning as investors digest recent gains and position ahead of key U.S. economic data. Market tone remains constructive, but participation continues to be selective, with leadership concentrated in large-cap names while small caps lag.
Want the full picture?
Today’s Daily Market Recap includes deeper macro context, biotech movers, and actionable takeaways — available to paid members only.
👉 Subscribe to Market Clarity to get full daily recaps delivered every evening.
Macro & Rates
Treasury yields are relatively stable following recent volatility, keeping broader financial conditions supportive. Markets continue to price in potential rate cuts later in the year, but expectations remain highly data-dependent. Any surprise in today’s releases could shift rate expectations quickly.
What to Watch Today
8:30am ET: Retail Sales
9:15am ET: Industrial Production and Capacity Utilization
10:00am ET: Business Inventories
Retail sales will be the key driver for rates this morning, particularly around consumer resilience and inflation sensitivity.
Global Pulse
Asian markets were mixed overnight with no clear regional leadership. European equities are slightly softer as investors remain cautious ahead of U.S. data and broader central-bank direction.
Commodities, FX & Crypto
Oil remains firm, supported by ongoing geopolitical and supply-side concerns. Precious metals continue to attract inflows as real-rate expectations stabilize. Crypto markets are modestly lower, consolidating after recent strength.
Biotech & Health Care
Biotech is mixed pre-market, continuing its trend of stock-specific moves rather than broad sector momentum. Investors remain focused on clinical updates, regulatory developments, and partnership headlines, keeping the group selective rather than broadly risk-on.
Actionable Takeaways
Expect choppy, data-driven trading this morning. Rates remain the primary driver of equity leadership. Large-cap quality and real assets continue to show relative strength, while small caps lag as a risk signal.
Want the full picture?
Today’s Daily Market Recap includes deeper macro context, biotech movers, and actionable takeaways — available to paid members only.
👉 Subscribe to Market Clarity to get full daily recaps delivered every evening.
