Post #15507

Rate Cuts Odds Stay Alive U.S. equity futures turned higher as markets digested the delayed jobs report and what it means for the Fed’s next move. The Nasdaq specifically found support at the 25,000 handle. November NFP came in at 64K, slightly above expectations, but the details told a softer story. The unemployment rate rose to 4.6%, above forecasts, while wage growth cooled to 3.5% YoY. On top of that, retail sales were flat, missing estimates and pointing to slowing consumer momentum. Net takeaway: headline jobs were better than feared, but the broader data leaned cooling, keeping rate-cut expectations alive and supporting risk sentiment. US rate futures still see two cuts in 2026 after jobs data, retail sales data; pricing 58 bps of easing next year. - Alan