Wall Street is trading without a defined trend this Tuesday after the mixed sign on Monday, as investors turn their attention to the labor marketwhose situation will be decisive for the next movements of the Federal Reserve (Fed). «He S&P 500 recorded its 54th all-time high this year on Monday, as the record 'Black Friday' sales «They were another proof that Americans continue to spend,» says Ipek Ozkardeskaya, senior analyst at Swissquote Bank. In fact, Bankinter emphasizes that «Holiday Season sales do not seem to be going badly (online +6%)» and that the «good consumption data (Black Friday and Cyber Monday) will help the bullish momentum continue«. At a macro level, the employment will be the great protagonist. Thus, in this session the October JOLTS Job Offerings and Labor Turnover Survey, which has shown a higher-than-expected growth in job vacancies. During the next few days it will be the turn of the private employment data prepared by the consulting firm ADP (Wednesday) and the weekly unemployment claims (Thursday). The main course will arrive on Friday with the publication of the November official reportfor which the creation of 200,000 new jobs is expected, after the 12,000 the previous month due to the impact of the hurricanes. «The American labor market is about to record trend growth again in Novemberafter recovering from the disruptions caused by Hurricane Milton and the attacks on Boeing that clouded the October figures,» they indicate in Julius Baer. All of this will be key for the Fed rate decision at its meeting on December 18 and for which the market discounts, with a probability of 72.5%, according to the CME Group's FedWatch tool, which will carry out a new cut of 25 basis points. «An additional cut of 25 basis points (bp) would keep US monetary policy in restrictive territory, although to a lesser extent. This posture is consistent with a solid but cooling labor market and with the policy changes coming under the new Trump presidency. Although the planned expansionary fiscal policy may limit the scope for rate cuts in 2025, the planned efficiency improvements could help contain inflation expectations,» add experts at Julius Baer. «In theory, strong data should partially moderate the Fed's already moderate expectations, but the market wants to see another 25 basis point cut from you in December and the Federal Reserve is willing to align,» adds Ozkardeskaya. In this sense, investors will also remain very attentive to the words of Jerome Powellpresident of the organization, who will speak on Wednesday at a symposium in New York in search of any clue about the future steps of the US central bank.
COMPANIES AND OTHER MARKETS
At the business level, SpaceXElon Musk's rocket and satellite company, is in talks to carry out a sale of own shares which could raise its valuation to approximately $350 billion. Furthermore, the actions of tesla fall 2% after the US Justice confirmed the annulment of Elon Musk's $56 billion multimillion-dollar salary package approved in 2018. On the other hand, South Korean stocks have plummeted in US trading after the president of South Korea, Yoon Suk-yeol will declare emergency martial law after accusing the opposition of controlling Parliament, engaging in anti-state activities and sympathizing with North Korea. In other markets, oil West Texas rises 1.15% ($68.88) and the Brent advances 1.07% ($72.62). For his part, the euro appreciates 0.24% ($1.0523), and the ounce of gold earn 0.30% ($2,666). Furthermore, the 10-year American bond yield is revalued to 4.215% and the bitcoin loses 0.50% ($95,372).