Stock Index Futures Gain on Fed Rate-Cut Optimism, U.S. Economic Data on Tap

Economic Data and Market Reactions - U.S. retail sales rose by +0.2% month-over-month in September, below expectations of +0.4% [3] - Core retail sales, excluding motor vehicles and parts, grew by +0.3% month-over-month, meeting expectations [3] - The U.S. Conference Board's consumer confidence index fell to a 7-month low of 88.7 in November, lower than the expected 93.5 [3] - Job losses are accelerating, with U.S. companies shedding an average of 13,500 jobs per week in the four weeks ending November 8th [3] - Wall Street's major indexes closed higher, with Keysight Technologies rising over +10% after positive FQ4 results and guidance [4] - Applied Materials advanced +5% following an upgrade from UBS [4] - Homebuilder stocks surged as the 10-year T-note yield fell to a 3.5-week low [4] Federal Reserve Expectations - December S&P 500 E-Mini futures are up +0.34%, and Nasdaq 100 E-Mini futures are up +0.42%, driven by expectations for a Federal Reserve rate cut [5] - U.S. rate futures indicate an 80.8% chance of a 25 basis point rate cut at December's meeting [5] - The Fed's Beige Book survey is expected to highlight weakness in employment and economic activity [8] Upcoming Economic Indicators - Durable Goods Orders and Core Durable Goods Orders data for September are anticipated, with expectations of +0.5% and +0.2% month-over-month increases, respectively [6] - Initial Jobless Claims are estimated at 226K, compared to last week's 220K [7] - The Chicago PMI for November is forecasted at 44.3, up from 43.8 [7] - The EIA's weekly crude oil inventories report is expected to show a decrease of -1.3 million barrels [7] International Market Developments - The Euro Stoxx 50 Index is up +0.41%, supported by expectations for a Fed rate cut and progress in Ukraine peace talks [10] - Japan's Nikkei 225 closed higher, influenced by U.S. stock gains and expectations of more Fed rate cuts [13] - China's property market faces challenges, particularly with state-backed China Vanke, while AI-related stocks are advancing due to Alibaba's investment plans [12]