A trader operates on the New York Stock Exchange floor on December 2, 2024. Following a record high close by the S&P 500 at the start of December trading, stock futures held steady on Monday night. S&P 500 and Nasdaq 100 futures hovered around their flatlines, while Dow Jones Industrial Average futures ticked down by 24 points, or 0.1%. Earlier on Wall Street, the S&P 500 and the tech-focused Nasdaq Composite both closed at record highs, despite the Dow dropping over 100 points, or 0.3%, after briefly surpassing the 45,000 mark.
Investors are focused on the October jobs report due Tuesday—an important precursor to several key data releases this week that will gauge the labor market’s health. The highlight is Friday’s November payrolls report, which comes just before the Federal Reserve’s policy meeting on December 17-18. According to CME’s FedWatch Tool, there is nearly a 75% chance of a rate cut by the Federal Reserve during this meeting.
Sam Stovall, chief investment strategist at CFRA Research, highlighted the importance of labor data but expressed confidence that investor expectations regarding a potential rate cut are unlikely to be disrupted.
Attention will also turn to speeches from Fed Governor Adriana Kugler and Chicago Fed President Austan Goolsbee scheduled for Tuesday afternoon. On the corporate earnings front, investors are awaiting reports from Salesforce and Okta, expected after the market closes.
Original Story https://www.cnbc.com/2024/12/02/stock-market-today-live-updates.html
Category :
Tags:
