Optimism among investors is rising following New York Fed President John Williams‘ indication that a rate cut in December is still on the table.
He said in a speech on Friday that “I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral.”
Meanwhile, investors await earnings from Dell Technologies Inc. (NYSE:DELL), HP Inc. (NYSE:HPQ), Deere & Co. (NYSE:DE), Li Auto Inc. (NASDAQ:LI), and others in this Thanksgiving holiday-shortened week.
The 10-year Treasury bond yielded 4.05% and the two-year bond was at 3.51%. The CME Group's FedWatch tool‘s projections show markets pricing a 73.5% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
0.03%
S&P 500
0.30%
Nasdaq 100
0.51%
Russell 2000
0.20%
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 higher in premarket on Monday. The SPY was up 0.19% at $660.28, while the QQQ advanced 0.37% to $592.25, according to Benzinga Pro data.
Stocks In Focus
Pony AI
Pony AI Inc. (NASDAQ:PONY) rose 2.59% in premarket on Monday as it announced a partnership with ride-hailing platform Sunshine Mobility to build a large-scale autonomous driving fleet.
Benzinga’s Edge Stock Rankings indicate that PONY maintains a weaker price trend over the short, long, and medium terms. Additional performance details are available here.
WeRide
WeRide Inc. (NASDAQ:WRD) jumped 7.92% as its revenue grew 144.3% year-over-year to $24.0 million and gross profit rose 1,123.9% YoY to $7.9 million in the third quarter.
WRD maintained a weaker price trend over the short, long, ...
