Beyond Meat offers food products that provide protein from plants as an alternative to meat - the production of which is increasingly seen as harmful to the environment. The company's goal is to find 'a better way to feed the planet' while addressing human health, climate change, constraints on natural resources, and animal welfare. These concerns have become increasingly important over the years, especially among younger consumers. Based in El Segundo, California, Beyond Meat has approximately 750 employees.

The major indices are higher are midday, led by the Nasdaq which is up more than 2% as of this writing. Stocks are getting some relief as tariffs continue to take form, but might be tempered. Looking ahead, a fresh read on inflation is coming this week. The yield on the 10-year Treasury note is around 4.33%. Oil is near $69 per barrel. Bitcoin is up almost 4% and over $88,000.

Beyond Meat offers food products that provide protein from plants as an alternative to meat - the production of which is increasingly seen as harmful to the environment. The company's goal is to find 'a better way to feed the planet' while addressing human health, climate change, constraints on natural resources, and animal welfare. These concerns have become increasingly important over the years, especially among younger consumers. Based in El Segundo, California, Beyond Meat has approximately 700 employees.

Monday Tee Up: Holiday Mood This is a holiday-shortened week. Markets close early on Tuesday and are closed all day on Wednesday for Christmas. Last week, the Federal Reserve cut rates as expected, but surprised Wall Street by paring back on its rate-easing plan for 2025. The Dow Jones Industrial Average fell 2.3%, the S&P 500 dropped 2.0%, and Nasdaq lost 1.8%. For the year, the Dow is higher by 14%, the S&P is up 24%, and the Nasdaq has popped 30%. The next earnings season will kick off mid-January as usual with the big banks reporting first. Earnings for 3Q came in 9% higher than in the prior-year quarter. On the economic calendar, Monday features the release of data on Consumer Confidence. On Tuesday, Durable Goods Orders and New Home Sales hit the tape. Argus Chief Economist Chris Graja's Call of the Week is Durable Goods Orders, on which he offered the following. 'We are hoping for some good news in the manufacturing economy. Last week's GDP and Retail Sales reports showed that consumers are doing well. However, despite the overall strength, last week's disappointing report on industrial production shows that the manufacturing economy is still weak.' Last week, the Federal Reserve lowered the fed funds target rate by 25 basis points (bps) as expected. Wall Street was surprised by the Fed's so-called 'dot plot' which now suggests there will be only two rate cuts in 2025, a dramatic change from the prior count of four. In response, we have tweaked our rate forecast. We still see three 25-bps rate cuts in 2025 but now believe those cuts will be pushed back to later in the year. Mortgage rates went up 12 bps last week, with the average 30-year fixed-rate mortgage at 6.72%, according to FreddieMac. Gas went up by a penny, with the average price for regular gas at $3.02 per gallon. The Atlanta Fed GDPNow indicator is forecasting for 4Q and calls for expansion of 3.1%. The Cleveland Fed CPINow indicator is now forecasting for December and is at 2.86%. Looking ahead, the Federal Reserve meets again at the end of January, with a rate decision on January 29.