This came despite the government reopening, as the Donald Trump administration stated that two of the most vital inputs for the Federal Reserve wouldn’t be released.
White House Press Secretary Karoline Leavitt said, “All of that economic data released will be permanently impaired, leaving our policymakers at the Federal Reserve flying blind at a critical period."
Meanwhile, despite November being the best-performing month for the Nasdaq 100, the index was down 3.34% month-to-date. Since 1985, the index has averaged gains of 2.64%, closing higher 70% of the time.
The 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 49.6% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
-0.18%
S&P 500
-0.32%
Nasdaq 100
-0.60%
Russell 2000
-0.240%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Friday. The SPY was down 0.24% at $670.42, while the QQQ declined 0.50% to $605.34, according to Benzinga Pro data.
Stocks In Focus
Warner Bros Discovery
Warner Bros Discovery Inc. (NASDAQ:WBD) rose 3.34% as Comcast Corp. (NASDAQ:CMCSA), Netflix Inc. (NASDAQ:NFLX), and Paramount prepare bids for Warner Bros. Discovery acquisition.
Benzinga’s Edge Stock Rankings indicate that WBD maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are available here.
