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title:US stock futures steady as rate-cut conviction runs high
source:Yahoo Finance
content:LIVE Updated 1 min ago
[](http://finance.yahoo.com/ "Yahoo Finance")
Stock market today: Dow, S&P 500, Nasdaq steady as Wall Street cements in rate-cut hopes
========================================================================================
[Rian Howlett](/author/rian-howlett) and [Karen Friar](/author/karen-friar)
Updated Thu, December 4, 2025 at 3:34 PM GMT+1 2 min read
* [StockStory Top Pick](https://stockstory.org/high-quality/top-6-to-buy-this-week?partner=yahoo&utm_source=yahoo&utm_medium=content_ticker&utm_campaign=contenthighqualitystock)
[ADP
+0.57%](/quote/ADP/ "ADP")
[SNOW
-8.96%](/quote/SNOW/ "SNOW")
* [^IXIC
-0.07%](/quote/%5EIXIC/ "^IXIC")
[YM=F
+0.09%](/quote/YM%3DF/ "YM=F")
[ES=F
+0.19%](/quote/ES%3DF/ "ES=F")
US stocks inched higher on Thursday as Wall Street digested fresh jobs data, with traders baking in expectations that the Federal Reserve will deliver a December rate cut.
The Dow Jones Industrial Average ([^DJI](https://finance.yahoo.com/quote/^DJI)) and the S&P 500 ([^GSPC](https://finance.yahoo.com/quote/^GSPC)) put on over 0.2%. The tech-heavy Nasdaq Composite ([^IXIC](https://finance.yahoo.com/quote/^IXIC)) also added nearly 0.2% on the heels of [small closing gains](https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-rise-as-weak-adp-jobs-data-reinforces-growing-fed-rate-cut-bets-210358240.html) for Wall Street stocks.
DJI - Free Realtime Quote • USD
(^DJI)
======
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[View Quote Details](/quote/%5EDJI/)
47,984.11
+101.21
+(0.21%)
As of 9:35:22 AM EST. Market Open.
^DJI ^IXIC ^GSPC
[Advanced Chart](/chart/%5EDJI)
Wall Street is under growing conviction that the Fed will shift toward easing at its policy meeting next week, fueled by support from key officials and a lackluster run of economic data. Traders are pricing in an 89% probability of a rate cut, per [CME FedWatch](https://www.cmegroup.com/markets/interest-rates/cme-fedwatch-tool.html), after a softer-than-expected ADP reading on private employment.
[Speculation that Kevin Hassett](https://finance.yahoo.com/news/treasury-secretary-bessent-stops-short-of-confirming-kevin-hassett-as-next-fed-chair-163552987.html) will replace Jerome Powell as Fed chair is playing into expectations for lower rates. The White House's top economic advisor is seen as likely to usher in a more-dovish era at the Fed, given his backer President Trump's aggressive campaign for rapid cuts. But markets are said to be [doubtful about Hassett](https://finance.yahoo.com/news/market-doubts-hassett-deliver-fed-060917176.html), and bond investors have reportedly [voiced concerns](https://finance.yahoo.com/news/bond-investors-warned-us-treasury-181839269.html) to the US Treasury.
Further clues to the state of the labor market came Thursday, with jobless claims unexpectedly falling but another report finding last month was the [worst November for corporate layoffs](https://finance.yahoo.com/news/employers-announced-more-than-71000-layoffs-last-month-in-worst-november-since-2022-challenger-124809066.html) in three years. Markets are now starting to count down to Friday's release of the delayed September PCE reading on consumer prices — the Fed's preferred gauge of inflation — to put rate-cut optimism to a tougher test.
With [earnings season](https://finance.yahoo.com/news/live/earnings-live-salesforce-stock-rises-on-upbeat-guidance-snowflake-tumbles-american-eagle-surges-212906992.html) in its final stretch, Salesforce ([CRM](https://finance.yahoo.com/quote/CRM)) shares popped after the business software maker [posted a raised outlook](https://finance.yahoo.com/news/salesforce-raises-annual-revenue-forecast-210550804.html) that both topped analyst expectations. Meanwhile, Snowflake ([SNOW](https://finance.yahoo.com/quote/SNOW)) stock tumbled after the AI data cloud provider's revenue guidance fell short, even as it [deepened](https://www.snowflake.com/en/news/press-releases/snowflake-and-anthropic-announce-200-million-partnership-to-bring-agentic-ai-to-global-enterprises/) its partnership with Anthropic ([ANTH.PVT](https://finance.yahoo.com/quote/ANTH.PVT)).
Results from retailers Dollar General ([DG](https://finance.yahoo.com/quote/DG)) and Kroger ([KR](https://finance.yahoo.com/quote/KR)) could shed light on the resilience of the consumer, while Hewlett-Packard Enterprise ([HPE](https://finance.yahoo.com/quote/HPE)) earnings are also on the docket on Thursday.
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