US EditionWall Street Steady Ahead of New Labor and Inflation Data
U.S. stocks held steady with S&P 500 and Dow futures up 0.1% after ADP reported 32,000 job losses, increasing expectations of a Fed rate cut next week.
- Early Thursday, Wall Street held steady ahead of the government's labor release, with S&P 500 and Dow Jones futures ticking up 0.1% before the opening bell.
- ADP's weak payroll reading prompted markets to reassess rate odds as ADP estimated U.S. job losses of 32,000 in November, bolstering expectations that the Federal Reserve will cut rates next week while the government's November jobs report remains delayed by the government shutdown.
- SoftBank Group Corp.'s shares jumped 9.2% after its founder reaffirmed an AI focus, despite being down nearly 28% from a month ago after selling a Nvidia stake for $5.8 billion.
- Investors favor lower rates because they lift asset prices and support the economy, but this can fuel inflation above the Fed's 2% target as officials consider the Fed's favored inflation measure on Friday.
- Regional markets showed mixed moves amid Fed‑cut expectations, with Japan's Nikkei 225 climbing 2.3% to 51,028.42, nearing its all‑time high, as traders speculate over the Bank of Japan raising rates this month.
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Quick Read Stocks rallied yesterday as many feel that the weak ADP data that dropped Wednesday almost guarantees a rate cut next week. Interest rate doves feel that a rate cut in January could be on the table if more weak economic data comes in. With the major indices closing back in on all-time highs, we could see a retest of the recent selling. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial ad…
Associated Press News
Wall Street steady ahead of new labor and inflation data
Wall Street was holding steady ahead of the government’s latest data release on the labor market, a day after a private survey showed that the U.S. economy lost jobs last month.
Profits inside the New York Stock Exchange (NYSE) expanded for the second consecutive day, amid signs that continue to show the cooling of the labor market in the United States, following the publication of the ADP survey.In this context, the Industrial Average Dow Jones led the increases with 0.86 percent, in the 47 thousand 882.90 integers, followed by the S&P 500 that rose 0.30 percent, with 6,849.72 points, while the high technological value…
The futures of shares in the US remained largely flat on Wednesday, with investors focusing on ADP’s November employment report, which will be published before market opening. A good fact could strengthen the expectations of a rate cut by the Federal Reserve in December, which would further boost markets.
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