By Joe Wallace
Federal Reserve officials will have one last chance to review the labor market before their next interest-rate move, with October's delayed job openings and labor turnover survey (JOLTS) due for release this morning.
Investors think the Fed is all but certain to cut interest rates at the end of its two-day meeting tomorrow. Interest-rate futures show traders are pricing in an 89% probability of a quarter-point reduction in borrowing costs, according to CME data. But they have grown less confident about cuts next year, in part because of cautious comments by Kevin Hassett, the favorite to be the next Fed chair. The central bank will publish economic projections, including officials' rate outlook, on Wednesday.
Bellwether 10-year Treasury yields reached their highest level since September on Monday, but edged down early Tuesday in tandem with yields for most other major government bonds. Stock futures pointed to muted moves for the S&P 500 and Dow industrials after minor losses yesterday.
Nvidia shares rose before the bell after President Trump said he would let the semiconductor designer export H200 chips to China, with the U.S. government taking a 25% cut. The chips are more powerful than the H20 product Nvidia was previously allowed to sell, but aren't its top model.
In recent trading:
--The Australian dollar strengthened and bond yields rose after the Reserve Bank of Australia hinted it may raise rates in 2026.
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(END) Dow Jones Newswires
December 09, 2025 05:37 ET (10:37 GMT)
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