S&P 500 futures (ES=F) rose 0.2%. Nasdaq 100 futures (NQ=F) gained 0.4%. Dow Jones Industrial Average futures (YM=F) were nearly flat, down 10 points or 0.02% at 47,906 as of 3:58 a.m. EST.
The market’s focus is now centered on the September Personal Consumption Expenditures (PCE) price index, which was postponed due to the government shutdown. The report arrives alongside updated figures on US personal spending, income, and December consumer sentiment.
Top Pre-Market Gainers
Pre-market action delivered large swings in smaller healthcare and biotech stocks. Polyrizon Ltd. (PLRZ) surged 130.04% to $16.31, one of the most dramatic early moves, supported by heavy speculative interest. Picard Medical (PMI) also gained 27.72%, trading at $2.58, marking continued attention on micro-cap medical innovation names.
Tech-linked firm Q/C Technologies (QCLS) climbed 18.42% to $5.53, signaling ongoing demand for AI and quantum infrastructure plays. Novo Nordisk (NVO) traded higher at $47.97, up 0.84%, as investors remain focused on global demand for weight-loss drugs and earnings strength.
Meta, Nvidia and Tesla Active in Early Trade
Large-cap tech names were active ahead of the opening bell. Meta Platforms (META) jumped 5.62% to $675.52, extending recent multi-session gains as AI-driven ad performance and cost improvements continue to attract institutional flows. Nvidia (NVDA) rose 1.08% to $181.52, holding steady after days of sharp swings tied to AI chip demand and supply chain updates.Tesla (TSLA) traded modestly higher at $449.81, up 0.69%, as investor sentiment recovers from recent volatility in EV delivery expectations. Meanwhile, robotics-focused names saw mixed movement. Richtech Robotics slipped 1.90% to $4.14, and Ekso Bionics (EKSO) fell 2.94%, indicating selective investor appetite within the automation sector. iRobot (IRBT) declined 10.32% to $3.04, extending its slide amid ongoing competitive pressures and regulatory uncertainties.
Rate-cut bets climb to 87% as markets look to December 10 Fed decision
Traders continue to price in a high probability that the Fed will deliver a quarter-point rate cut next week. Fed funds futures now imply 87% odds of easing, up from 62% a month earlier, according to CME FedWatch.
This shift has strengthened as recent labor data signaled a slowing—but not collapsing—job market. Thursday’s Challenger report showed 71,000 job cuts in November, the worst monthly total since 2022. The cuts were linked to restructuring, AI-driven automation shifts, and tariff pressures.
However, weekly jobless claims told a different story. New filings fell to the lowest level since September 2022, suggesting the job market is cooling gradually rather than sharply. The combination has reinforced expectations that the Fed may feel comfortable loosening policy.
Silver stabilizes after record highs while gold trades steady
Silver steadied overnight after traders took profits from its rapid rally. COMEX silver futures (SI=F) traded around $57.05 an ounce, down 0.2% from earlier in the session. The metal hit nearly $59 on Wednesday—an all-time high—before falling more than 2% on Thursday.
Silver for March delivery last traded at $57.58, up 1.29%. Gold held near $4,205.13, while platinum and palladium moved slightly. The Bloomberg Dollar Spot Index rose 0.1% in the prior session.
The strong advance in precious metals has been supported by expectations of lower US interest rates. Traders see near-certainty that the Fed will cut borrowing costs next week—a scenario that typically boosts non-yielding assets.
Even with rate-cut optimism, some investors remain wary of stubborn Treasury yields. The 10-year yield continues to hold above 4.1%, keeping pressure on rate-sensitive sectors like real estate and utilities.
High yields signal tighter financial conditions. They also increase borrowing costs for businesses, reducing appetite for expansion and weighing on equity valuations. Meanwhile, a 6 million-barrel jump in US crude inventories pointed to weaker energy demand and raised fresh concerns about economic momentum.
Corporate movers and the data to watch next
A series of market-moving economic reports and Federal Reserve speeches are on deck for early next week.
Cisco Systems rose 4.62% after strong earnings and upbeat guidance. Nike gained 2.85%. Verisk Analytics climbed 2.24% on news of a new insurance-technology partnership.
On the downside, Bloom Energy sank 18.28%. Flutter Entertainment fell 14.27% after cutting earnings guidance, and Sandisk dropped 13.96%.
Investors will watch Monday’s comments from senior Fed officials, including New York Fed President John Williams and Minneapolis Fed President Neel Kashkari. The Empire State Manufacturing Index and TIC flows reports will also give fresh signals about industrial activity and foreign appetite for US assets.
