U.S. stock futures were mixed on Thursday morning amid growing hopes of an interest rate cut. Markets are now pricing in an 87% chance of a 25-basis-point interest-rate cut at the upcoming Federal Reserve meeting. Futures on the Nasdaq 100 (NDX) were down 0.05%, while futures tied to the S&P 500 (SPX) and the Dow Jones Industrial Average (DJIA) were up 0.06% and 0.08%, respectively, at 8:23 a.m. EST on December 4.
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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, boosting hopes about the Federal Reserve announcing a rate cut. The Dow rose 0.86%, while the S&P 500 and the Nasdaq Composite gained 0.30% and 0.17%, respectively.
Turning to trending stocks, Micron (MU) shares were down about 2% after the company announced its decision to exit its consumer memory brand, Crucial. Meanwhile, Symbotic (SYM) stock plunged more than 13% after the automation technology company announced a primary and secondary offering of its common stock.
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