Meanwhile, as Wall Street chatter about a December rate cut and a new Federal Reserve Chair took center stage, President Donald Trump was reportedly contemplating appointing U.S. Treasury Secretary Scott Bessent as his chief economic adviser if incumbent Kevin Hassett is chosen as the next Chairman of the Federal Reserve.
The ADP report on Wednesday indicated that U.S. private employers shed 32,000 jobs in November, missing the forecast for a 5,000 gain and reversing October’s 42,000 additions; this reinforced views of a cooling labor market.
The 10-year Treasury bond yielded 4.09% and the two-year bond was at 3.51%. The CME Group's FedWatch tool‘s projections show markets pricing an 87% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
0.13%
S&P 500
0.11%
Nasdaq 100
0.13%
Russell 2000
0.01%
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 Thursday. The SPY was up 0.095% at $684.54, while the QQQ advanced 0.12% to $624.26, according to Benzinga Pro data.
Stocks In Focus
UiPath
UiPath Inc. (NYSE:PATH) jumped 9.02% in premarket on Thursday after reporting upbeat third-quarter financial results and issuing fourth-quarter sales guidance with its midpoint above estimates.
Benzinga’s Edge Stock Rankings indicate that MRVL maintains a stronger price trend over the short, medium, and long terms, with a moderate growth ranking. Additional performance details are available here.
Salesforce
Salesforce Inc. (NYSE:CRM) rose 2.02% after reporting better-than-expected third-quarter earnings and raising ...
