S&P Futures Gain as Investors Weigh U.S. Jobs Data, Fed Speak and Micron Earnings in Focus

Economic Data Summary - U.S. nonfarm payrolls increased by +64K in November after a decline of -105K in October, indicating a slight recovery in job growth [1] - The U.S. unemployment rate rose to 4.6% in November, the highest in four years, surpassing expectations of 4.5% [1] - Average hourly earnings in the U.S. rose by +0.1% month-over-month and +3.5% year-over-year, both below expectations [1] - U.S. retail sales remained unchanged month-over-month in October, while core retail sales grew by +0.4% month-over-month, exceeding expectations [1] Market Performance - Wall Street's major indexes closed mixed, with energy stocks declining due to a more than -3% drop in WTI crude prices [2] - Notable losers included Phillips 66, which fell over -6%, and Humana, which also dropped over -6% after disappointing EPS guidance [2] - On the positive side, Comcast gained over +5% following speculation of activist investor involvement [2] Oil Market Developments - Oil prices increased by more than +2% after President Trump ordered a blockade of sanctioned tankers entering and leaving Venezuela, raising concerns about supply disruptions [3] Futures and Investor Sentiment - December S&P 500 E-Mini futures rose by +0.27% as investors reacted to the latest U.S. jobs data and awaited comments from Federal Reserve officials [4] - Investors are focused on the upcoming U.S. consumer inflation report for November, with expectations of core and headline inflation at +3.0% and +3.1% year-over-year, respectively [5] Federal Reserve Insights - Atlanta Fed President Raphael Bostic emphasized the need to address inflation, suggesting that elevated price pressures may persist into the next year [6] - U.S. rate futures indicate an 80.1% probability of no rate change at the January FOMC meeting [7] Earnings Reports - Key earnings reports are anticipated from companies such as Micron Technology, General Mills, and Jabil Circuit [8] International Market Updates - The Euro Stoxx 50 Index rose by +0.20%, driven by gains in mining and energy stocks [10] - U.K. annual inflation rate eased to +3.2% in November, below expectations, while Eurozone inflation was revised lower to +2.1% [11] Japan's Economic Indicators - Japan's exports rose by +6.1% year-over-year in November, exceeding expectations, while core machinery orders surged by +7.0% month-over-month [16]