(Finance) – Wall Street is moving slightly higherafter U.S. Bureau of Labor Statistics data indicated a larger-than-expected increase in nonfarm jobs, raising investor bets that the Federal Reserve will continue to cut rates of interest this month.
Going into detail, the report showed that the non-farm payrolls they increased by 227,000 in November 2024, compared to expectations of an increase of 202 thousand; the October reading was revised upward to 36,000 from 12,000. Furthermore, the unemployment rate it stood at 4.2% in November, in line with expectations and after the 4.1% of the previous month.
According to the CME’s FedWatch Tool, traders now see a 87% chance for a 25 basis point cut in this month’s meeting (compared to 70% yesterday and 66% a week ago).
Meanwhile, they continue analyst forecasts for next year. BofA said there is a high risk of “overshoot” in early 2025 if the S&P 500 approaches 6,666 points, about 10% higher than current levels. HSBCshe said she was optimistic about U.S. stocks in 2025, predicting a 10% rise in the S&P 500, which will reach 6,700 by the end of the year.
Among those who spread the quarterly in the last hours, Lululemon Athletica, Ulta Beauty And Victoria’s Secret & Co. they improved the forecasts.
Looking at the main indexes of the New York Stock Exchange, the Dow Jones which stands at 44,854 points (+0.20%), while theS&P-500 it makes a small leap forward of 0.25%, reaching 6,090 points. Fractional earnings for the Nasdaq 100 (+0.3%); on the same trend, with a moderate increase inS&P 100 (+0.21%)