As the U.S. stock futures show signs of decline following a tech selloff, investors are bracing for the market shutdown tomorrow in honor of former President Jimmy Carter’s funeral. Meanwhile, Moderna shares are witnessing a rally thanks to positive news surrounding its bird-flu vaccine. However, the cryptocurrency market is struggling, with Bitcoin and major crypto stocks falling as labor market data diminishes hopes for interest rate cuts by the Federal Reserve. Here’s what you need to keep an eye on today.

1. U.S. Stock Futures Drop Post-Tech Selloff

In the wake of a significant selloff in the tech sector, U.S. stock futures are pointing down. Nasdaq futures have dipped by 0.4% after a staggering decline of 1.9% on Tuesday. The S&P 500 and Dow Jones indices are also showing slight decreases. On a related note, the yields on the 10-year Treasury note have climbed above 4.7%, indicating concerns about inflation and economic growth. Meanwhile, oil prices are gaining traction while gold is experiencing a minor retreat.

2. Markets Shut Down for Jimmy Carter's Funeral on Thursday

In a show of respect for the late President Jimmy Carter, who passed away at the age of 100 on December 29, stock markets and federal government offices will be closed tomorrow for a national day of mourning. Notably, bond markets will close early at 2 p.m. ET. This closure will impact the release of scheduled reports, with the weekly initial jobless claims and the Census Bureau's wholesale inventories report being rolled out today.

3. Moderna's Stock Surges on Vaccine Optimism

Moderna (MRNA) is seeing a premarket gain of 1.4% after a monumental jump of 12% yesterday due to optimism surrounding its H5N1 bird-flu vaccine. This excitement follows the alarming news of the first U.S. death related to the H5N1 virus. With sales from its COVID-19 vaccine contraction recently, this potential new revenue stream could be a silver lining. Moderna’s stock has struggled, seeing a 50% decline over the last year, making this surge particularly noteworthy for investors.

4. Bitcoin Faces Downward Pressure from Labor Data

Bitcoin (BTCUSD) is down about 2%, trading near $95,000 after a robust labor market report dashed expectations for forthcoming interest rate cuts by the Federal Reserve. After exceeding $100,000 earlier in the week for the first time in nearly three weeks, the cryptocurrency saw a dramatic drop from an overnight high of close to $103,000. Key companies are also feeling the pressure: MicroStrategy (MSTR) shares fell by 3%, while the leading crypto exchange, Coinbase Global (COIN) decreased by 2%, following its 8% drop yesterday.

5. Palantir’s Stock Declines Amid Valuation Concerns

Shares of Palantir Technologies (PLTR) are facing a downturn as analysts express growing concerns over the company’s valuation, particularly in light of its AI-centric software solutions. The stock has struggled in recent weeks amidst broader market volatility and skepticism regarding its profitability metrics. Investors are keenly watching for updates or opportunities to rebound amid the fluctuating market sentiment.

Stay tuned, as the market responds to these pivotal factors, and keep an eye on potential opportunities that could arise during this tumultuous time!