November's delayed and distorted jobs report, released on Tuesday, failed to provide clarity, widening the divide among Wall Street economists debating whether the rise to 4.6% unemployment signals a controlled cooling or the start of a “hiring recession.”
Meanwhile, the 10-year Treasury bond yielded 4.16% and the two-year bond was at 3.50%. The CME Group's FedWatch tool‘s projections show markets pricing an 80.1% likelihood of the Federal Reserve leaving the current interest rates unchanged.
Futures
Change (+/-)
Dow Jones
0.23%
S&P 500
0.33%
Nasdaq 100
0.37%
Russell 2000
0.30%
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 0.21% at $680.28, while the QQQ advanced 0.23% to $613.15, according to Benzinga Pro data.
Stocks In Focus
Lennar
Lennar Corp. (NYSE:LEN) was 3.78% lower after reporting mixed financial results for the fourth quarter after the market closed on Tuesday. It reported fourth-quarter revenue of $9.37 billion, beating analyst estimates of $9.02 billion.
LEN maintained a weaker price trend over the short, medium, and long terms, with a poor quality ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Micron Technology
Micron Technology Inc. (NASDAQ:MU) shares jumped 3.36% in premarket ahead of its earnings after the closing bell. Analysts expect earnings of $3.93 per share on revenue of $12.81 billion.
It maintains a ...
