NEW YORK / LONDON (IT BOLTWISE) – US stock markets are holding steady as expectations of a December interest rate cut rise. The latest labor market data points to a possible easing of monetary policy, which is boosting investor sentiment. Technology stocks are under pressure while defensive sectors are becoming more attractive.
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US stock markets are holding steady on Thursday morning as expectations of a rate cut in December rise. Dow Jones Industrial Average futures rose 45 points, up 0.1%. S&P futures were slightly above the zero line, while Nasdaq 100 futures fell less than 0.1%. This development follows the release of ADP labor market data, which showed an unexpected decline in private employment in November.
Investors are interpreting the ADP data as another signal that the Federal Reserve may be inclined to cut interest rates at its next meeting on December 10. The market is now pricing in an 87% chance of a rate cut, which is significantly higher than just a few weeks ago. The U.S. Department of Labor’s labor market data, which will be released on Thursday, could provide further clues about the state of the economy.
There were mixed reactions in the technology sector. Microsoft shares closed 2.5% lower after reports of lowered sales targets in its artificial intelligence sector. Microsoft dismissed these reports, causing the stock to rally. However, the sector remains under pressure as investors increasingly shift into defensive areas.
Market participants are also closely monitoring developments in the Trump administration’s trade policy. Finance Minister Scott Bessent expressed confidence that the government can reset its tariff agenda even if the current tariff system fails in the Supreme Court. These uncertainties could continue to influence markets in the coming weeks.
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