FX.co ★ U.S. Futures Ease

U.S. stock futures experienced a slight decline on Tuesday following a drop on Wall Street on the initial trading day of December, after five consecutive sessions of gains. Recent data revealed that for the ninth consecutive month, U.S. manufacturing contracted in November, with import tariffs continuing to impede activity. Investors are now anticipating several key announcements this week, particularly the release of the postponed PCE Price Index, which is the Federal Reserve's preferred measure of inflation. Attention is also directed towards the Federal Reserve's upcoming policy meeting on December 9-10, with market speculation heavily leaning towards an anticipated 25 basis point interest rate cut, supported by over 85% of predictions. Additionally, markets are considering the potential for a leadership shift at the Federal Reserve, following President Trump's announcement of selecting a successor for Chair Powell. Kevin Hassett, the White House economic adviser, is widely regarded as the frontrunner for the position. Meanwhile, shares of Strategy fell 3.3% after revealing a USD 1.44 billion capital raise, intended for distributing dividends on preferred shares and servicing debt, denominated in U.S. dollars rather than bitcoin. In contrast, retail stocks such as Walmart experienced gains as the holiday shopping season gained momentum.