Traders Take Breather Pre-Bell on Wall Street; Asia Up, Europe Off
2024-12-12
Category: economic

Wall Street futures hesitated at record zeniths pre-bell, as traders assessed values with broad-market equity indices again straddling all-time highs. 
After Wednesday's national inflation report, the CME FedWatch tool pre-bell estimates a 98.6% chance the Federal Reserve will cut interest rates by 0.25%, at next week's policy meeting. 
In economic news, the producer price index (PPI) bulletin will post in Washington at 8:30 am ET, with pundits projecting a 2.6% on-year gain by the metric, and 3.2% rise on the PPI-core, that excludes certain food and energy bills. 
In the futures, the S&P 500, the Nasdaq and the Dow Jones were all off about 0.2% from Wednesday closes. 
Adobe (ADBE) declined 10.6% pre-bell after the graphics-software outfit reported solid fiscal Q4 earnings, but tempered guidance, late Wednesday. 
Asian exchanges traded mostly higher overnight on outlooks for central bank moderation in Tokyo and Washington, while European bourses edged lower midday on the continent. 
Ciena (CIEN) plans to report earnings pre-bell, among others. Broadcom (AVGO) and Costco (COST) report post-bell. 
On the economic calendar, in addition to the PPI bulletin, is the weekly jobless claims report at 8:30 am ET, followed by the Q3 services survey at 10 am. 
The weekly EIA natural gas release posts at 10:30 am. 
In pre-market action, Bitcoin traded at $100,633, West Texas Intermediate crude oil traded evenly at $70.25, and 10-year US Treasuries offered 4.30%. Spot gold traded for $2,712 an ounce.