TechFlow news — On November 30, according to Jinshi Data, Federal Reserve Chair Jerome Powell is scheduled to be interviewed on December 5 at the New York Times DealBook/Summit conference, with markets closely watching his comments on the pace of potential rate cuts.
Earlier minutes from the Fed's November monetary policy meeting showed that policymakers broadly supported a cautious approach toward future rate cuts. Federal funds futures indicate that markets expect interest rates by the end of 2024 to decline from the current range of 4.5%–4.75% to 3.8%, an upward revision of more than 100 basis points compared to expectations in September.
U.S. equities had a strong week, with the S&P 500 posting its largest monthly gain since November 2023. According to LSEG Lipper data, global equity funds saw inflows for the ninth consecutive week, attracting $12.19 billion this week—an increase of 32% from the prior week. Sameer Samana, senior strategist at Wells Fargo Investment Institute, said the Fed has begun questioning how much monetary easing the economy and labor market actually need.
Markets will now focus on the upcoming nonfarm payrolls report; strong employment data could further dampen expectations for Fed rate cuts. Additionally, October job openings data and the November ADP employment report will provide key insights into the state of the U.S. labor market.
