Slightly positive trend for Wall Street futures, after the modest rises of yesterday’s session. Dow Jones, S&P 500 and Nasdaq contracts show gains of around 0.1-0.2%, ahead of some labor market data.
Yesterday the three indices closed respectively at +0.4%, +0.75% and +0.7%, following the release of the minutes of the Fed. From the minutes of the last meeting, held on 13 and 14 December, it is It emerged that officials agree on the need to further increase the cost of money, but gradually and flexibly so as not to excessively compromise economic growth.
FOMC members continue to rule out rate cuts in 2023 and warn markets against excessive optimism about a conclusion to monetary tightening, as it could hinder its strategy to moderate prices and the economy. Nonetheless, operators continue to price in a reduction in the cost of money as early as this year.
The December ADP report on private sector employment and weekly data on jobless claims will be released later, pending tomorrow’s non farm payrolls.
Among individual Wall Street stocks, focus on Amazon (+2.7% in pre-market) after the announcement of staff cuts of up to 18,000 employees. The spotlight is also always on Tesla, which recorded a drop in deliveries from the Shanghai factory after a record November, due to the temporary suspension of production and lower consumer demand.
Meanwhile, internationally, traders welcome the gradual reopening of the borders between mainland China and Hong Kong.