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US STOCKS-Futures steady as Wall Street awaits key jobs data
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US STOCKS-Futures steady as Wall Street awaits key jobs data
Dec 5, 2024 5:11 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window.)

*

Crypto stocks jump after Bitcoin crosses $100,000

*

SentinelOne ( S ) plunges after missing Q3 profit estimates

*

Futures down: Dow 0.04%, S&P 500 0.05%, Nasdaq 0.09%

(Updates with prices)

By Shashwat Chauhan and Purvi Agarwal

Dec 5 (Reuters) -

U.S. stock index futures were mostly unchanged on Thursday

following record highs for all three main indexes in the

previous session, as investors awaited upcoming employment data.

The S&P 500, the Nasdaq and the blue-chip Dow

clocked record closing highs on Wednesday as technology

shares rallied after upbeat results from companies including

Salesforce ( CRM ) and Marvell Technology ( MRVL ).

U.S. Federal Reserve Chair Jerome Powell appeared to signal

support for a slower pace of interest-rate cuts ahead when he

spoke on Wednesday, saying the economy was stronger at this

point than the central bank had expected in September. San

Francisco Fed President Mary Daly said there was "no sense of

urgency" on reducing borrowing costs further.

Comments from Richmond Fed President Thomas Barkin are due

later in the day.

Still, traders currently see a 74% chance of the Fed easing

monetary policy by 25 basis points at its December meeting,

according to CME's FedWatch Tool.

A reading of weekly jobless claims is due before markets

open on the day, while the crucial monthly jobs report is

scheduled to release on Friday.

"Ahead of a 'live' Fed policy meeting in December, we expect

special factors including weather, the resolved Boeing strike

and (U.S.) election effects to cloud the read on the job

market," BNP Paribas economists wrote in a note.

"Our forecasts imply a November jobs report that is just

ambiguous enough - strong job growth but a slight rise in

unemployment, alongside moderate gains in pay - to keep a

December rate cut as our base case."

At 06:55 a.m., Dow E-minis were down 18 points, or

0.04%, S&P 500 E-minis were down 3 points, or 0.05% and

Nasdaq 100 E-minis were down 18.75 points, or 0.09%.

Cryptocurrency- and blockchain-related stocks jumped in

premarket trading after bitcoin, the world's largest

cryptocurrency, stormed above the $100,000 mark for the first

time.

Exchange operator Coinbase Global ( COIN ) rose 3.5%, miner

MARA Holdings ( MARA ) added 5.6% and MicroStrategy ( MSTR ),

the largest corporate holder of bitcoin, advanced 6.5%.

Dollar General ( DG ) slipped 2% after the discount

retail chain

trimmed

the upper end of its annual profit forecast.

Southwest Airlines ( LUV ) gained 3.8% after the carrier

raised its

forecast

for fourth-quarter revenue per available seat miles.

SentinelOne ( S ) dropped 15% after the cybersecurity firm

missed Wall Street estimates for third-quarter profit.

Synopsys ( SNPS ) fell 7.6% after the chip design software

firm forecast fiscal 2025 revenue below Wall Street

expectations, in part due to a slump in China sales.

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