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Market Overview - Global stock markets are experiencing declines, with the S&P 500 futures indicating a third consecutive day of losses, while European markets are also weak [1] - Oil prices remain near their lowest levels since 2021, and gold has retreated after five days of gains [1] - Investors are adopting a cautious stance ahead of key U.S. economic data releases, particularly the November employment report, which is expected to show weakness in the labor market [1][2] Economic Data and Investor Sentiment - The upcoming November employment report, which includes delayed October data due to a government shutdown, is a focal point for market participants [2] - The U.S. Consumer Price Index (CPI) is also set to be released, contributing to the critical economic data that will guide investor sentiment [2] - There is a noticeable risk-off tone in the market, with some funds reducing their beta exposure or locking in profits ahead of these data releases [2] Federal Reserve Outlook - The U.S. 10-year Treasury yield is stable around 4.17%, with market expectations leaning towards two rate cuts by the Federal Reserve next year to support the labor market [3] - There is a divergence in views within the Federal Reserve regarding policy stance, with some members expressing concerns over restrictive policies while others see favorable conditions for future decisions [6] Stock Market Movements - S&P 500 futures are down 0.6%, and Nasdaq 100 futures have decreased by 0.9% [7] - The Euro Stoxx 50 futures have fallen by 0.7%, indicating a broader trend of declining European markets [7] - Technology stocks are facing rotation pressure, with the MSCI Asia Technology Index experiencing consecutive declines, potentially reaching its lowest level since early December [8][9] Currency and Commodity Trends - The U.S. dollar index remains relatively unchanged, while the Japanese yen has appreciated by 0.2% against the dollar [7] - Gold prices have decreased by 0.4%, settling at $4289.85 per ounce, and West Texas Intermediate crude oil has dropped by 0.7% to $56.45 per barrel [7] - In the Asian currency market, the Indian rupee has fallen to a historical low, while the Japanese yen is expected to see a rate hike from the Bank of Japan [10]