Stock futures tick higher ahead of data releases: Markets Wrap

by Andre Janse van Vuuren

US stock futures are signaling a second day of modest gains as traders wager that economic data due later Wednesday will reinforce expectations for an interest-rate cut next week. Bitcoin extended its rebound.

Contracts on the S&P 500 rose 0.1%. Dovish remarks from Federal Reserve officials and the expected appointment of a chair seen favoring easier policy have bolstered bets that rate cuts will come faster than previously anticipated, lifting stocks out of their November slump.

Treasuries firmed and the dollar dipped ahead of an ADP Research report expected to show a deterioration in private-sector employment growth. The data has taken on added importance with official releases still delayed. A separate report is likely to slower growth in November services activity.

“Instead of non-farm payrolls, people are going to look at ADP. Instead of the inflation numbers, they’re going to look at things like the ISM service print,” said Justin Onuekwusi, chief investment officer at St. James’s Place. “Without that clear runway of data, sentiment is always going to be precarious.”

Bitcoin pushed above $93,000 to a two-week high as the broader crypto market looks to sustain a recovery from its weeks-long selloff. Ether and other major tokens also edged higher.

The Swiss franc strengthened agains the dollar as inflation in the country unexpectedly stalled, delivering a setback for central bank officials just days before their final rate decision of 2025.

Corporate News

• HSBC Holdings Plc unexpectedly appointed Brendan Nelson as its next chair, replacing hard-charging financier Mark Tucker who has led Europe’s largest lender for much of the last decade.
• At least three investors in a China Vanke Co. bond maturing this month have signaled to the embattled developer that they will oppose a plan to delay repayment, people familiar with the matter said.
• Airbus SE cut its 2025 aircraft delivery target after discovering production glitches on its bestselling A320 jet that require additional checks
• Zara owner Inditex SA’s sales accelerated in November, highlighting its resilience in the face of weakening consumer sentiment that’s hitting many of its peers. The shares soared.
• Qatar’s sovereign wealth fund sold a stake worth about £266 million ($352 million) in J Sainsbury Plc, marking a significant selldown by the supermarket’s largest shareholder.
• CrowdStrike Holdings Inc. raised its fiscal 2026 guidance, signaling resilient demand for the company’s expanding portfolio of artificial intelligence-enabled cybersecurity products.

Some of the main moves in markets:

Stocks

• The Stoxx Europe 600 rose 0.3% as of 9:31 a.m. London time
• S&P 500 futures rose 0.1%
• Nasdaq 100 futures were little changed
• Futures on the Dow Jones Industrial Average rose 0.2%
• The MSCI Asia Pacific Index was little changed
• The MSCI Emerging Markets Index was little changed

Currencies

• The Bloomberg Dollar Spot Index fell 0.2%
• The euro rose 0.2% to $1.1643
• The Japanese yen rose 0.1% to 155.66 per dollar
• The offshore yuan rose 0.1% to 7.0590 per dollar
• The British pound rose 0.4% to $1.3267

Cryptocurrencies

• Bitcoin rose 1.3% to $92,842.14
• Ether rose 1.8% to $3,050.34

Bonds

• The yield on 10-year Treasuries was little changed at 4.08%
• Germany’s 10-year yield was little changed at 2.75%
• Britain’s 10-year yield was little changed at 4.47%

Commodities

• Brent crude rose 1.1% to $63.13 a barrel
• Spot gold fell 0.1% to $4,200.95 an ounce

This story was produced with the assistance of Bloomberg Automation.

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