"Futures are trading higher on Wednesday as we reach the midpoint of the last full trading week of the year. Sellers once again took their toll on two of the major indices, while the Nasdaq squeaked out a minimal gain after being down around the noon hour. The Dow Jones Industrial Average closed down 0.62% at 48,114, while the S&P 500 was last down 0.44% at 6800. The Nasdaq pulled out a small win for the Bulls, finishing the session at 23,111, up 0.23%."
"The delayed US employment reports show a worrieome shift: the US lost 105,000 jobs in October, primarily due to massive federal government workforce reductions, followed by a gain of 64,000 jobs in November, with health care, social assistance, and leisure/hospitality sectors driving growth, as the unemployment rate rose to 4.6%. The data showed a weakening labor market despite some private-sector hiring, with massive job cuts in October and a jump in long-term unemployment, which gave the bears all they needed."
"Yields were down across the Treasury curve as buyers returned following the employment data release. The slowing economy and weak job data send a signal to the bond market that there could indeed be more rate cuts in 2026, perhaps as many as two between now and next summer. Investors are also reacting to the Federal Reserve's recent easing stance and watching for upcoming inflation data and other central bank decisions,"
Futures rose midway through the final full trading week as the Nasdaq edged a small gain while other major indices fell. Delayed payrolls showed a 105,000-job loss in October, driven by federal workforce cuts, followed by a 64,000-job gain in November led by health care, social assistance, and leisure/hospitality, and unemployment rising to 4.6%. The weak labor-market signals prompted Treasury buyers, pushing yields down across the curve and suggesting potential rate cuts in 2026. The 30-year yield was 4.82% and the 10-year at 4.15%. Oil prices fell to their lowest levels since early 2021 amid oversupply concerns; CPI data is due tomorrow.
Read at 24/7 Wall St.
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