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FOLLOW THE BOUNCING BALL (0832 ET/1332 GMT)
U.S. equity index futures are pointing to a higher open after a sharp sell-off for the second time in four sessions, as a drop of nearly 2% in the S&P 500 (.SPX) on Tuesday left the benchmark index at its lowest closing level since Oct 27.
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Investors who were already jittery from concerns about the new COVID-19 variant Omicron that fueled Friday's sharp pullback were further unnerved by comments from U.S. Federal Reserve Chair Jerome Powell that indicated the central bank may tighten monetary policy faster than anticipated. read more
Monday's bounceback was seen as somewhat tepid by analysts, who will look for a stronger follow-through for today's bounce.
Futures slightly added to gains following the release of the ADP National Employment Report, which showed private payrolls increased by 534,000 jobs last month, above the 525,000 expectation. The data comes ahead of Friday's key payrolls report.
Data expected shortly after the opening bell includes the ISM Manufacturing PMI for November as well as October Construction Spending. The Fed's Beige Book of economic conditions is expected later in the day.
Below is your premarket snapshot:
(Chuck Mikolajczak)
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December 01, 2021 at 09:00PM
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LIVE MARKETS Follow the bouncing ball - Reuters
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