5 Must-Knows Before Tuesday’s Stock Market Open

Here are five key things investors need to know to start the trading day:

**1. Economic Barometer: Nonfarm Payrolls and Fed Uncertainty Loom**

All eyes are on this morning’s delayed nonfarm payroll report, expected at 8:30 a.m. ET. This crucial data point arrives on the heels of a Federal Reserve rate cut and amid shifting dynamics for the central bank’s leadership. Economists surveyed by Dow Jones anticipate the U.S. added 45,000 jobs in November, with the unemployment rate potentially rising to 4.5%. This comes with a caveat: Fed Chair Jerome Powell has cautioned about a “systematic overcount” of recent job numbers, which could necessitate significant revisions.

Adding to market unease is the uncertainty surrounding Fed leadership. Sources indicate that National Economic Council Director Kevin Hassett’s potential candidacy for Fed Chair has faced pushback from individuals close to President Donald Trump. Investors are already on edge, as major indexes finished yesterday in the red, weighed down by lingering fears around artificial intelligence infrastructure financing. This week’s economic calendar is also packed, with the November consumer price index report due Thursday, also delayed by the government shutdown.

**2. Ford’s EV Pivot: A $19.5 Billion Reckoning**

Ford is undertaking a significant strategic shift, moving away from a full-electric vehicle future and toward a greater emphasis on hybrids. This recalibration comes with a substantial cost: $19.5 billion in special items, primarily related to the cancellation of a planned generation of all-electric trucks in favor of smaller, more affordable EV models. While shares saw a nearly 2% bump in after-hours trading, the move underscores the broader challenges facing the electric vehicle industry, including a sales slowdown exacerbated by the expiration of federal tax credits in September. Ford CEO Jim Farley articulated the strategy as “following customers to where the market is,” noting that high-end EVs, in particular, “just weren’t selling.”

**3. Tariff Tally: Revenue Surpasses $200 Billion Amid Legal Scrutiny**

Revenue generated from tariffs imposed by the Trump administration this year has now surpassed $200 billion, according to U.S. Customs and Border Protection. These broad and significant duties have reshaped global trade patterns, but their long-term legality remains in question as the Supreme Court reviews their constitutionality. A ruling against the administration could necessitate refunds for companies that have already paid these tariffs. Despite the overall milestone, tariff revenue experienced a slight dip in November, falling to $30.75 billion from over $31 billion in the prior month, marking the first decline since the tariffs were announced in April.

**4. Consumer Resilience: Spending Holds Strong Despite Economic Pessimism**

Despite a prevailing sense of economic gloom, American consumers are demonstrating remarkable resilience, continuing to spend. Even as key consumer sentiment indicators hover near historic lows, data reveals that the period between Thanksgiving and Cyber Monday saw the highest number of shoppers in at least nine years. Major retailers, including Costco and Best Buy, have reported positive starts to the crucial holiday shopping season. However, signs of economic caution are evident in the strength of value-oriented retailers like Walmart and T.J. Maxx, indicating that consumers are increasingly price-conscious.

**5. Robotaxi Revolution: From Sci-Fi to the Streets**

What was once considered science fiction a decade ago is now a tangible reality: robotaxis are becoming a common sight across America, operating in cities from Las Vegas to Phoenix. Alphabet’s Waymo leads the charge, with services active, testing, or planned in 26 global markets. Amazon-owned Zoox and Tesla have also launched their initial robotaxi services this year. Tesla shares surged to a new 2025 high after CEO Elon Musk confirmed driverless robotaxi tests were underway in Austin. Nevertheless, challenges persist, including consumer concerns about noise, congestion, safety, and the higher cost compared to traditional ride-sharing options.

**The Daily Dividend**

Baron Capital founder Ron Baron recently discussed his firm’s new active ETFs and its significant investment in SpaceX on CNBC’s “ETF Edge.”