U.S. stock futures are inching higher on Thursday after markets ended lower on Wednesday, amid growing concerns regarding a “hiring recession” following the November jobs report, which was released on Tuesday.
Traders and investors will be looking forward to the November Consumer Price Index, which is due later today, as a key inflation read that could provide the much-needed catalyst the markets need to set the tone for the final few trading days of the year.
Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.46%. The CME Group’s FedWatch tool‘s projections show markets pricing a 73.4% likelihood of the Federal Reserve leaving the current interest rates unchanged.
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Wednesday. The SPY was up 0.23% at $672.95, while the QQQ advanced 0.55% to $603.70, according to Benzinga Pro data.
