Jobs Report Looms: Fed's Rate Decision Hinges on November Data

Stock futures remained steady overnight, following a downturn, as investors anticipate the November jobs report. This report is pivotal for understanding future interest rate movements. Tech stocks, previously leading the markets decline due to AI concerns, now take a backseat as all eyes turn to the upcoming employment figures. The November non-farm payrolls report, delayed due to a government shutdown, will significantly impact the Federal Reserves policy easing discussions. Many traders bet on two interest rate cuts next year, prioritizing the labor market over inflation. The report is expected to show a modest job gain and unemployment around 4.4%. The consumer inflation numbers for November, also delayed, will follow, setting the stage for the Federal Reserves next interest rate decision in January.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.