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Traders seeking support for bets that the Fed will cut interest rates this month will be watching the US jobs report at 8:30 a.m. in Washington. It'll likely take a very strong reading to upend the view the Fed will cut by a quarter point.
The European Central Bank will cut interest rates more rapidly than previously thought to boost the economy — a quarter-point reduction next week and then at every policy meeting through June, a Bloomberg survey shows.
Chinese shares rally on optimism a key policy meeting next week will deliver fresh stimulus. Later today, the markets' focus will be on US payrolls data forecast to show a rebound in hiring in November.
Trading turned subdued ahead of the November US non-farm payrolls report due on Friday, which is expected to show hiring bounced. The S&P 500 fell for the first time in five days after repeatedly closing at a record, while Treasury yields pared an ascent seen earlier in the US session.
Brent crude fell for a second day to trade around $72 per barrel after OPEC+ agreed for a third time to delay the revival of halted production, with oil demand faltering in China.
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