Stocks Slightly Lower on US Economic Concerns

Economic Indicators - The S&P 500 Index is down by -0.14%, while the Dow Jones is down by -0.13%, and the Nasdaq 100 is up by +0.03% [1] - The broader market is under pressure due to US economic concerns, with the November unemployment rate rising to a 4-year high of 4.6% and October retail sales stagnating [2][4] - November nonfarm payrolls increased by +64,000, surpassing expectations of +50,000, while October nonfarm payrolls decreased by -105,000, worse than the expected decline of -25,000 [4] - Average hourly earnings in November rose by +0.1% month-over-month and +3.5% year-over-year, which is the smallest year-on-year increase in 4.5 years [4] Retail Sales - October retail sales were unchanged month-over-month, falling short of expectations of +0.1% [5] - However, retail sales excluding autos rose by +0.4% month-over-month, exceeding expectations of +0.2% [5] Market Expectations - The market is anticipating a 24% chance that the Federal Open Market Committee (FOMC) will cut the fed funds target range by 25 basis points at the next meeting on January 27-28 [7] - Upcoming economic news includes expectations for a decrease in weekly initial unemployment claims and a rise in November CPI to +3.1% year-over-year [6]