U.S. stock futures traded mixed early Thursday as investors priced in a higher likelihood of a 25-basis point interest-rate cut at the upcoming Federal Reserve meeting. Futures on the Nasdaq 100 (NDX) and the S&P 500 (SPX) were down 0.06% and 0.01%, respectively, while those on the Dow Jones Industrial Average (DJIA) were up 0.10% at 3:12 a.m. EST on December 4.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
During Wednesday’s regular trading session, all three major indexes closed higher after the ADP report showed an unexpected drop in private payrolls for November. The jobs decline is usually seen as negative for the economy, but the stock market climbed higher, since it boosted expectations that the Fed would cut rates to spur growth. The Dow rose 0.86%, while the S&P 500 gained 0.30% and the Nasdaq edged up 0.17%.
Turning to economic reports, traders anticipate the weekly jobless claims report and a speech from Fed Vice Chair for Supervision Michelle Bowman.
On the earnings front, reports from ChargePoint (CHPT), DocuSign (DOCU), Kroger Company (KR), and Hewlett Packard Enterprise (HPE) are expected today.
Notably, the U.S. 10-year Treasury yield was up, floating near 4.08%. WTI crude oil futures were trending higher, hovering near $59.36 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price decreased to nearly $4,190 per ounce on Thursday.
Elsewhere, in Europe, markets opened mostly higher on Thursday as traders anticipated a slew of regional data releases scheduled for today.
Asia-Pacific Markets Traded Higher
Asia-Pacific markets mostly rose on Thursday, tracking Wall Street gains amid higher expectations for a Federal Reserve rate cut next week.
Hong Kong’s Hang Seng Index rose 0.41%. In China, the Shanghai Composite fell 0.06% and the Shenzhen Component lost 0.04%. Meanwhile, Japan’s Nikkei advanced 2.33%, and the Topix gained 1.92%.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.