December S&P 500 E-Mini futures are up +0.16%, nearing a new all-time high as investors await the release of the Federal Reserve’s inflation gauge. Wall Street closed mixed yesterday, with Dollar General surging +14% on strong Q3 results. The Labor Department reported a 3-year low of 191K initial jobless claims last week, and U.S. factory orders rose +0.2% in September. Today, focus is on the core PCE price index, personal spending and income data, U.S. Consumer Sentiment Index, and Consumer Credit report. U.S. rate futures predict an 87.2% chance of a 25 basis point rate cut next week. Asian markets closed mixed, with China’s SHCOMP up +0.70%. Market analysts are expecting a positive policy tone from the upcoming Central Economic Work Conference, with a focus on stronger consumption support, increased job creation, and an improved social safety net. Baidu saw a +5% increase in Hong Kong after news of its AI chip unit preparing for an IPO. In Japan, the Nikkei 225 closed lower due to weak household spending data but still saw a weekly gain. Bank of Japan is expected to raise rates later this month, with officials signaling further increases in the future. Japanese government bond yields surged, prompting concerns about fiscal discipline. Household spending in Japan fell unexpectedly, while the leading index exceeded expectations. Pre-market U.S. stock movers include Rubrik, Ulta Beauty, and Hewlett Packard Enterprise. Today’s earnings spotlight features Victoria’s Secret Co, KNOT Offshore Partners LP, and Tuniu Corp.

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