MYworldfix

The upcoming November reading of the consumer price index (CPI) on Wednesday holds great importance as it is among the last major datasets before the Fed's Dec. 17-18 meeting. Market expectations suggest a slight increase in inflation last month. According to CME's FedWatch, trader bets on the Fed delivering another 25 basis point interest rate cut next week stand at over 86%. These bets saw a significant jump after Friday's employment report which showed a surge in job growth but also an uptick in unemployment.

Central Bank's Anticipated Pause in Cuts

The central bank is expected to pause cuts in January. Last week, a host of officials hinted at a slower pace of monetary policy easing due to the resilient economy. This decision is likely to have far-reaching implications for the financial markets and the overall economic landscape.

Impact on Dow, S&P 500 and Nasdaq E-minis

At 5:28 a.m. ET, Dow E-minis were down 19 points, or 0.04%. S&P 500 E-minis were down 2 points, or 0.03%. Nasdaq 100 E-minis were up 1.5 points, or 0.01%. These movements reflect the uncertainty and volatility in the market ahead of the CPI reading and the Fed's decision.

Wall Street's Monday Performance and Technology Stocks

Wall Street's main indexes closed lower on Monday. Technology stocks, led by Nvidia (NASDAQ:NVDA), faced declines after the Chinese market regulator launched an antitrust probe into the AI chip giant. Its shares were down 0.9% in premarket trading on Tuesday. This shows the sensitivity of the market to regulatory actions and geopolitical factors.

Year-End Journey of U.S. Equities

U.S. equities started their year-end journey on a broadly positive note. The benchmark S&P 500 and the tech-heavy Nasdaq logged gains in their first week, building upon a stellar November after Donald Trump's win in the presidential election. The potential policies of the president-elect on tax cuts and looser regulation in the incoming administration are expected to boost corporate performance.

Pre-Market Movers and Their Performance

Among premarket movers, Oracle (NYSE:ORCL) dipped 8.4% after missing Wall Street estimates for second-quarter results and forecasting its third-quarter profit below estimates. C3.ai climbed 8.6% after raising its forecast for fiscal year 2025 revenue. Software firm MongoDB (NASDAQ:MDB) slipped 3.6% despite raising its forecast for annual results. These examples highlight the diverse performance of different companies in the premarket trading.