Stocks Set for Muted Open as Investors Await Nvidia Earnings and U.S. Jobs Data

Market Overview - U.S. rate futures indicate a 55.4% chance of no rate change and a 44.6% chance of a 25 basis point cut at the next FOMC meeting in December [1] - Wall Street's major equity averages ended mixed, with semiconductor stocks generally declining, while DoorDash saw a significant increase of over +6% after a positive analyst rating [4] - The Euro Stoxx 50 Index fell -0.42% as investors adopted a cautious stance ahead of Nvidia's earnings and U.S. economic data releases [12] Company Earnings and Reports - Nvidia, referred to as "the most important stock on Earth" by Goldman Sachs, is set to report quarterly earnings, with high expectations following its previous revenue growth forecast [7] - Other notable companies releasing earnings this week include Walmart, Home Depot, and Target, alongside tech firms like Palo Alto Networks and Intuit [7] - The construction spending report for August is expected to show a -0.2% month-over-month change, while the Empire State Manufacturing Index is anticipated to come in at 6.10 for November [10][11] Economic Data and Fed Insights - The Bureau of Labor Statistics will publish the September jobs report, and the Census Bureau will release various economic reports, including construction spending and factory orders [8] - Fed officials have expressed skepticism about the need for another rate cut next month, citing ongoing inflation concerns [9] - The Fed's minutes from the October meeting will be released, providing insights into the central bank's stance on interest rates [9] International Developments - In Japan, the Nikkei 225 Index closed slightly lower amid deteriorating relations with China, which has implications for tourism and retail sectors [15] - Japan's GDP contracted in the third quarter, leading to discussions of a stimulus package exceeding 17 trillion yen ($110 billion) [16] - Italy's annual inflation rate eased to 1.2% in October, while the European Union raised its economic growth estimate for the year to 1.3% [12]