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The second-largest U.S. homebuilder by sales posted adjusted earnings of $4.06 per share for the quarter, below analysts' estimates of $4.16 per share, according to data compiled by LSEG. The U.S. housing market has struggled to rebound after being knocked down by a resurgence in mortgage rates in the spring. The 30-year fixed mortgage rate tracks the benchmark 10-year Treasury note, whose yield jumped to a four-month high in the aftermath of Republican Trump's victory in the U.S. presidential race.

The Federal Reserve's third interest rate cut of the year will likely have consequences for debt, savings, auto loans, mortgages and other forms of borrowing by consumers and businesses. The policymakers now envision two rate cuts next year, not the four they predicted back in September. Loan rates may barely budge if the Fed sticks with its plan to cut its key short-term rate only twice next year.

The Fed delivered its expected quarter-point interest rate cut but trimmed projections for follow-on moves in 2025.

The Dow Jones Industrial Average is skidding, with artificial-intelligence darling Nvidia among the stocks dragging it down. Futures tracking the blue-chip index ticked up 133 points, or 0.3%, on Wednesday as it bids to snap its longest losing streak in nearly half a century. If the Dow falls today, it will have dropped 10 days straight, which would be its worst run since October 1974.

A combination of U.S. fiscal expansion, potential tax cuts, and a healthy economy is likely to push Treasury yields higher, with T. Rowe Price projecting yields could even reach 6%.

A record spending tally over the Thanksgiving weekend helped power retail sales firmly past Wall Street forecasts.

U.S. Treasury yield forecasts from bond strategists have marched higher for a second month amid expectations of limited remaining Federal Reserve rate reductions and rising inflation risks in 2025, a Reuters survey found. Having kicked off its easing cycle with a jumbo half-percentage point cut in September, the central bank has lowered its fed funds rate by 75 basis points and looks set to trim another 25 bps on Wednesday to 4.25%-4.50%. Yet, since the first reduction, the benchmark U.S. 10-year Treasury yield, which moves inversely to prices, has shot up around 70 basis points - hitting a near six-month high of 4.50% last month.

The U.S. 10-year Treasury note yield rose back above 4.42%, an over three-week high, as market bets strengthened on a more cautious Fed in 2025. November retail sales data, due at 8:30 a.m. ET on the day, are expected to rise 0.5% on a monthly basis according to economists polled by Reuters. Futures pulled back after a fairly strong session on Monday, with the Nasdaq closing at a record high and the S&P 500 gaining ground.

Deutsche Bank Research chart shows the top market risks cited by investors versus a year ago.

U.S. stock futures were struggling early Tuesday following record highs in the previous session. S&P 500 futures were edging up less than 0.1% and Nasdaq 100 futures were down 0.1%. The S&P and Nasdaq Composite hit new highs on the first trading day of December but will be tested this week by a series of economic data releases, culminating in the jobs report on Friday.