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Wall Street futures slow, spotlight on the job report

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Limited changes for futures on the main Wall Street indices, before the US data on the labor market.

Contracts on the Dow Jones, S&P500 and Nasdaq traded slowly, awaiting the December job report which should show a decrease in the number of new jobs compared to the previous month.

The Fed will closely monitor non farm payrolls, unemployment and wage growth data to determine its next monetary policy moves.

A partial cooling of the labor market, in fact, would ease inflationary pressures, reducing the need to further significantly raise interest rates.

Currently, forecasts call for a spike above 5% in June following comments from Atlanta Fed Chairman Raphael Bostic that the central bank still has “a lot of work to do” to tame inflation. However, the St. Louis Fed president, James Bullard, who is no longer a voting member of the FOMC, said that the cost of money is approaching a sufficiently restrictive zone and that inflation expectations have decreased, partially reassuring the investors.

Stars and Stripes stock indexes closed lower yesterday, after better-than-expected ADP data on the private sector and lower jobless claims, which still suggest some strength in the labor market.

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