Derren Nathan, head of equity research at Hargreaves Lansdown, said: “Later on, we’ll see official US jobs numbers, which haven’t been seen since before the US government shutdown.
“Non-farm payroll numbers are expected for both October and November, with last month likely to be a cleaner-looking print.
“Consensus forecasts suggest around 50,000 new hires were made, less than half the 119,000 seen in September, but the range of expectations is much wider than usual.
“If recent private jobs data is anything to go by, the risk here is to the downside.
“With average hourly earnings expected to be up 3.7 per cent on a one-year view the juggling act for those with the keys to monetary policy also looks increasingly tricky stateside.
“That’s weighing on sentiment with US stock futures pointing downwards today.
“If, however, jobs and wage growth comes in weaker than expected, there is a chance that the bears will go back into hibernation on hopes of a more doveish approach by the Fed in 2026.”
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