Futures down after strong November, focus on upcoming data to predict Fed rate moves.

From Investing.com: 2024-12-02 05:40:57

U.S. stock index futures dipped in December after strong gains last month, with focus on upcoming economic data to predict Fed interest rate moves. Traders expect a 25-basis-point rate cut, down from 83% last month. Jobs report due Friday will provide insight into labor market health.

November nonfarm payrolls report is a key metric this week. October jobs opening data due Tuesday, private payrolls on Wednesday. S&P 500 and Dow hit record highs on Friday, capping off a strong November for U.S. equities. Investors optimistic about Trump’s policies but wary of inflation.

Multiple economic surveys this week will gauge economic health. November manufacturing activity surveys from S&P Global and ISM due today. Fed speakers including Chair Jerome Powell will give insights into central bank’s policy path. Fed Governor Christopher Waller and NY Fed President John Williams also set to speak.

At 5:06 a.m. ET, Dow E-minis down 54 points, S&P 500 E-minis down 12.75 points, Nasdaq E-minis down 48.5 points. Gap rose 3.5% after J.P. Morgan upgraded rating to “overweight”. Nvidia down 1.6%, Tesla up 1.7% in early premarket trading. Market awaiting Fed’s decision on interest rates.



Read more at Investing.com: Futures slip at start of data-packed week By Reuters