Futures Fall Ahead of U.S. Jobs Report

Futures for both Canadian and U.S. stock indexes showed slight movements as investors awaited crucial jobs data that could influence future interest rate decisions by the Federal Reserve and Bank of Canada. The TSX closed up slightly at 25,680.04, while Canadian job growth for November was reported at 51,000, although the unemployment rate rose to 6.8%. In the U.S., non-farm payrolls are projected to have increased by around 200,000 in November, with the unemployment rate expected to rise to 4.2%. The Federal Reserve faces pressure to potentially cut interest rates, with current trading showing a 68% chance of a 25 basis point cut at its upcoming meeting. Notably, stocks closed lower in the previous session, despite the S&P 500 and Nasdaq being on track for weekly gains. Investors also reacted to corporate news, with positive shifts for companies like Lululemon and Ulta Beauty based on stronger sales forecasts.