Equity Futures Are Down In Pre-Market Following Yesterday's Lower Close To Start The Week
U.S. stock futures are lower. Equity futures are down in pre-market trading following yesterday's lower close start to the week, so far pausing the recent rally that had the S&P 500 closing higher for five consecutive weeks. This surge was fueled by market optimism for a soft landing, alongside expectations of a 100 basis point cut in rates by the Federal Reserve by the end of next year. This morning, yields are declining ahead of the release of PMI, ISM Services, and JOLTS data shortly after the market opens. The economic releases this week will conclude with the November jobs report on Friday morning. Internationally, markets are mixed - Asian markets closed notably lower, with the Hong Kong Hang Seng Index hitting a new 52-week low, while European markets are mostly positive in afternoon trading. Gold continues its upward momentum and Crude oil is also seeing modest gains. Meanwhile, the U.S. Dollar remains stable.
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