FX.co ★ US Stocks to Start December on a Cautious Note

On the first trading day of December, U.S. stock futures opened lower following a volatile November. S&P 500 futures declined by 0.7%, Nasdaq 100 futures dropped by 0.9%, and Dow Jones futures decreased by 0.4%. The market exhibited caution as it anticipated several critical economic reports this week, including today's ISM Manufacturing PMI and the postponed September PCE report, all preceding the Federal Open Market Committee's decision next week. Currently, market expectations suggest an 87% likelihood of an additional 25 basis points reduction in the federal funds rate. Major technology stocks experienced declines in pre-market trading, with Nvidia down 1.9%, Microsoft and Apple each down 0.6%, Alphabet declining 1%, Amazon slipping 0.4%, Meta descending 1.5%, Broadcom decreasing 0.9%, and Tesla dropping 1.3%. Crypto-related stocks also faced setbacks, as Coinbase Global saw a decrease of 4.9% amid renewed Bitcoin selling pressure. Meanwhile, shares of Walmart and Target showed little movement in anticipation of the Cyber Monday sales.