Signs of strong U.S. economic activity steadied stocks, raising doubts about the need for a Fed rate cut next month. Tech wobbles calmed, but Qualcomm’s stock fell 4% due to business loss from Samsung. Private sector jobs rose, service firms reported activity and prices increased, while layoffs rose.

Futures show a 60% chance of a Fed cut next month, causing Treasuries to rise. Layoffs increased, with U.S. employers cutting over 150,000 jobs in October. Wall Street futures remained flat, the dollar fell, gold rose, and Bitcoin retreated. Brexit uncertainty remains as the Bank of England makes a crucial decision.

Asian stocks rose, China’s markets outperformed, and European stocks slipped. Supreme Court hearings question the legality of Trump’s tariffs, with a potential hiatus if emergency powers are not cleared. Pressure mounts to end the record government shutdown amid safety concerns in air traffic control.

Investors face key decisions as Tesla’s board bets big on Elon Musk, while gold’s rally sparks debate on its future. Fund money flows into the London Metal Exchange as investors bet on the market’s turnaround. The Bank of England faces a close rate decision amid tax rise expectations.

Key events to watch include the Bank of England’s rate decision, Fed governors speaking, and a slew of earnings reports from major U.S. corporations. Stay informed with the Morning Bid newsletter for daily updates. Follow ROI on Reuters and social media for the latest news and analysis.

Read more at Yahoo Finance: Selloff abates as economy hums, layoffs rise