December S&P 500 E-Mini futures are up 0.46% following dovish comments from a Federal Reserve official. New York Fed President John Williams sees room for rate cuts as the labor market weakens. Wall Street ended lower with Nvidia and Tesla dropping. Micron Technology and AMD also fell. Walmart climbed after strong results.

The U.S. Labor Department reported nonfarm payrolls rose by 119K in September, beating expectations. Unemployment rate rose to 4.4%, while average hourly earnings increased. Fed officials express concerns about inflation, cautious about rate cuts. Rate futures show a 59.0% chance of no change and a 41.0% chance of a rate cut next month.

President Trump signed an executive order to remove tariffs on certain agricultural products from Brazil. Investors await U.S. business activity data, including purchasing managers’ surveys and the U.S. Consumer Sentiment Index. European markets decline, with Euro Stoxx 50 down 1.70%. Asian markets also closed in the red, with China’s Shanghai Composite Index and Japan’s Nikkei 225 falling.

In Japan, the Nikkei 225 closed lower due to weakness in the technology sector. Core inflation in Japan accelerated in October, supporting expectations of an interest rate hike. Japan’s exports rose in October, while manufacturing activity shrank. U.S. pre-market stock movers include Intuit, The Gap, Ross Stores, and Doximity. Chip stocks are lower.

Earnings spotlight includes BJ’s Wholesale Club, IES Holdings, Moog, Miniso, Macy’s, and Buckle. Market participants will also focus on speeches from Fed officials. U.S. Treasury note yield is down. Eurozone business activity data released today. U.K. retail sales data shows a decline. Pre-market stock movements show fluctuations in various companies.

Read more at Yahoo Finance: S&P Futures Climb on Fed Rate-Cut Hopes, U.S. PMI Data in Focus