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Futures: Dow up 0.05%, S&P 500 up 0.33%, Nasdaq up 0.56%

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Deutsche Bank sees S&P 500 rising to 8,000 by 2026 end

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Bristol Myers gains after rivals positive late-stage data

(Updates with analyst comment, prices)

By Johann M Cherian and Pranav Kashyap

Nov 24 (Reuters) - U.S. stock futures were mixed in

choppy trade on Monday, as investors weighed the odds of an

imminent Federal Reserve rate cut in December while combing

fresh data for clues on the central bank's next move.

Stocks hit a volatile patch this month as investors worried

the AI boom may be morphing into a bubble, while a prolonged

U.S. government shutdown starved Wall Street of the economic

data it relies on to gauge the health of the world's largest

economy.

Dovish remarks from influential New York Fed President John

Williams offered some respite on the policy front last week but

was also a reflection on how divided policymakers were ahead of

December's FOMC meeting.

Investors are pricing in a 75% chance the central bank will

deliver a 25-basis-point interest rate cut next month, compared

with 42% a week earlier, according to CME Group's FedWatch Tool.

"Our base case remains for the FOMC to deliver a follow-up

cut. However, convincing the "many" policymakers that favor

keeping rates unchanged the rest of the year to lean towards a

cut will be challenging amid the void in key U.S. statistics,"

said Elias Haddad, global head of markets strategy at Brown

Brothers Harriman.

At 07:01 a.m. ET, Dow E-minis were up 24 points, or

0.05%, S&P 500 E-minis were up 22 points, or 0.33%, and

Nasdaq 100 E-minis were up 136.5 points, or 0.56%

CONSUMER RESILIENCE IN SPOTLIGHT AS HOLIDAY SEASON KICKS OFF

Retail sales and producer prices data for September is

expected through the week ahead of the holiday shopping season

that starts with the Thanksgiving holiday on Thursday, extending

into Black Friday and Cyber Monday.

Consumption patterns, the backbone of the American economy,

will be scrutinized at a time when multiple companies announced

layoffs, delayed official data pointed to rising unemployment

and U.S. tariffs weighed on sentiment.

The National Retail Federal said it expected U.S. holiday

sales to surpass $1 trillion for the first time. Last week,

Walmart, the United States' largest retail chain, raised its

annual forecasts. Shares of Walmart were up 0.2% in

premarket trading.

Earnings from consumer-oriented companies including Dick's

Sporting Goods and Best Buy ( BBY ) are expected later

this week.

TECH VALUATION WORRIES PERSIST

Despite AI-bellwether Nvidia's ( NVDA ) strong forecast last

week, ballooning valuations of the tech sector has plagued

markets for much of this month.

Wall Street's main indexes are now headed for monthly losses

in November, with the benchmark S&P 500 and tech-heavy

Nasdaq on track for their steepest declines since fears

of a tariff hike sparked a selloff in March.

Deutsche Bank lifted some of the gloom, projecting the S&P

500 would surge to 8,000 by the end of 2026, citing

resilient corporate earnings and AI-driven gains - the most

bullish call among major global brokerages.

Meanwhile, Bristol-Myers gained 3.8% after European

rival Bayer unveiled positive late-stage data for its

cardiovascular drug.

Some U.S. health insurers and hospital operators gained

after a report said Trump's health plan could see subsidy

extensions for two years.

Centene ( CNC ) surged 6.2%, Oscar health rose

13.8%, Molina healthcare was up 3.8% and Unitedhealth ( UNH )

gained 1.1%.