Where Are Markets Today? Flat Openings as Investors Digest November Gains and Gear Up for Key Data

Introduction

Traders searching for where are markets today in global financial markets are facing a notably quiet start to December. Major US and European equity futures are trading flat to marginally lower, signalling a clear pause after the sharp November rally.
November delivered solid gains across the board: the S&P 500 rose 3.7 %, the Nasdaq climbed 4.9 % and the Dow added 3.2 % in its final week. Despite this momentum and the historically favourable stock market predictions for December year-end rally, sentiment remains guarded. Elevated stock valuations in tech sector, particularly in artificial intelligence stocks, have prompted profit-taking and a wait-and-see approach.

European bourses are equally subdued, with flat openings in European markets reflecting ongoing euro-zone stagnation, volatile energy prices and persistent geopolitical tensions. This backdrop has shifted the near-term priority toward risk management strategies during geopolitical tensions rather than aggressive buying.

The main event today is the release of the ISM Manufacturing PMI and ISM Prices Index.

Market participants are closely watching whether the data weakness reinforces bets on early-2026 rate cuts or if an upside surprise lifts yields and caps equities. The outcome will directly influence investment decisions based on ISM Manufacturing PMI data and the broader path for monetary policy.

Major index performance S&P 500 Nasdaq as of Monday 1 December 2025:

• S&P 500: 6,849.09 (+0.54 %). This is also known as US 500 among CFD brokers.  
• Nasdaq Composite: 23,365.69 (+0.65 %). This is also known as US 100 among CFD brokers.   
• Dow Jones Industrial Average: 47,716.42 (+0.61 %)
• Russell 2000: ~2,500.43 (holding modest gains)

Magnificent Seven stock movements continue to play an outsized role. While the group powered most of 2025’s advance, recent margin pressures and softer guidance from Tesla and Meta are limiting broader upside until market breadth improves.
Looking ahead, the calendar is packed with high-impact events. Upcoming central bank decisions ECB Fed in December, final euro-zone and US inflation prints, and the December payrolls report will determine whether the traditional year-end rally materialises or gives way to renewed volatility.

In the forex markets, the dollar continues to hold strength among other major currencies but traders are expecting more wind to come out of the DXY index.

For now, the price action reflects a healthy consolidation rather than the start of a deeper correction. Disinflation appears intact, growth is slowing but not collapsing, and liquidity conditions remain supportive. Until fresh catalysts arrive, ranges are likely to dominate.

A comprehensive global markets overview therefore shows neither euphoria nor panic — just balanced positioning ahead of the data that will shape the final stretch of 2025.