December S&P 500 E-Mini futures are up +0.06%, while Nasdaq 100 E-Mini futures are up +0.05%, signaling a quiet start on Wall Street. Qualcomm falls over -3% pre-market after chipmaker guidance disappoints. U.S. companies announce highest job cuts in October in over two decades, fueling rate cut speculation. Wall Street closes higher, with Micron Technology and Marvell Technology leading gains. ADP report shows U.S. private nonfarm payrolls rose by 42K in October. U.S. rate futures predict 67.3% chance of a rate cut in December. Third-quarter earnings continue, with ConocoPhillips, Airbnb, Monster Beverage, and others reporting today.

In Europe, Euro Stoxx 50 down -0.09% as industrial stocks underperform. Germany’s industrial production rises +1.3% in September, below expectations. Eurozone retail sales fall unexpectedly in September. Norway’s central bank keeps key policy rate unchanged. ECB Vice President satisfied with current interest rates. Asian markets close higher, with China’s Shanghai Composite up +0.97% and Japan’s Nikkei up +1.34%. Japan’s real wages decline for ninth straight month in September. Japan’s services sector continues to grow in October. Nikkei 225 Volatility Index closes down -8.14%. Japan’s au Jibun Bank Services PMI stands at 53.1 in October.

Pre-market U.S. stock movers include Qualcomm, Applovin, and Arm Holdings. Earnings spotlight on ConocoPhillips, Parker-Hannifin, Airbnb, Monster Beverage, and more. Oleksandr Pylypenko does not hold positions in mentioned securities.

Read more at Barchart: Stocks Muted Before the Open as Dip Buying Fades, Fed Speak in Focus