- Stocks are coming off a tough stretch as investors look ahead to Wednesday's Federal Reserve rate decision.
- Bitcoin hit a new record on Sunday.
- Softbank CEO Masayoshi Son will announce plans to invest $100 billion in the U.S. during an appearance with President-elect Donald Trump.
Here are the most important news items that investors need to start their trading day:
1. Dull December
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Stocks enter the final full trading week of 2024 coming off a tough stretch. The Dow Jones Industrial Average has lost ground for seven straight sessions, and fell 1.8% last week. The S&P 500 also slid 0.6% during the period. The only winner was the Nasdaq Composite, which rose 0.3% for the week. Investors are looking ahead to the Federal Reserve's December interest rate decision Wednesday. Policymakers are widely expected to cut the Fed's benchmark rate by a quarter of a percentage point. Follow live market updates.
2. Bitcoin bonanza
Bitcoin hit a fresh record Sunday evening, topping out above $106,000. The cryptocurrency's torrid run got a boost from market expectations that the Fed would trim rates again this week. Bitcoin has now climbed 50% since the presidential election and 145% this year.
Money Report
3. AI cash injection
Softbank CEO Masayoshi Son will announce plans to invest $100 billion in the U.S. in the next four years, sources familiar with the matter told CNBC's Sara Eisen. The head of the Japanese tech investing firm will unveil the plans in a joint announcement with President-elect Donald Trump. Son will pledge to create 100,000 jobs in AI and related infrastructure. Many business leaders, including Son, announced investments in coordination with Trump during his first term to build favor with his administration.
4. GM's growth gambits
GM's Cruise robotaxi unit is its latest growth initiative to sputter out. The automaker said last week it would end the segment's operations, in another move back toward its core business. GM put more than $10 billion into Cruise since it acquired the company in 2016, and executives at one point predicted it could bring in $50 billion in revenue by the end of the decade.
5. Order up
As consumers watched their spending follow years of elevated inflation, the restaurant industry was further divided into winners and losers this year. Fast-food chains like McDonald's and Wendy's had a tough stretch – though leaning into deals helped to boost traffic to restaurants. Yum Brands' Taco Bell had a better year, as diners thought it offered better value for their money. Meanwhile, fast-casual chains like Cava and Wingstop enjoyed strong years. Read more about the restaurant industry's 2024 winners and losers here.
– CNBC's Brian Evans, Jesse Pound, Tanaya Macheel, John Melloy, Michael Wayland and Amelia Lucas contributed to this report.