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Wall Street Futures Edge Higher as Soft Jobs Data Fuels Rate-Cut Hopes

  US stock futures ticked upward on Wednesday, extending Wall Street’s rebound as investors digested a weaker-than-expected ADP employment report. The data showed a surprise decline in private-sector payrolls, reinforcing expectations that the Federal Reserve may move forward with an interest rate cut at its upcoming December meeting. Market Performance Dow Jones Industrial Average futures rose about 0.2%, adding 80 points to 47,624. S&P 500 futures gained 9.25 points to 6,849.50, up 0.14%. Nasdaq 100 futures advanced 25.50 points to 25,631.50, a 0.10% increase. Key Drivers The ADP jobs report revealed a drop in private-sector employment, signaling cooling labor market conditions. This bolstered investor confidence that the Fed will ease monetary policy, with markets pricing in nearly 88% odds of a rate cut next week. Tech stocks continued to provide momentum, with Nvidia and Marvell edging higher. Crypto-linked stocks surged, with PMAX up 67%, CMCT up 30%, a...
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WestJet Mechanics Strike: Over 150 Flights Cancelled Ahead of Long Weekend

In an unexpected turn of events, WestJet mechanics have gone on strike, leading to the cancellation of at least 150 flights starting this Saturday. The Aircraft Mechanics Fraternal Association (AMFA) initiated the strike due to the airline’s “unwillingness to negotiate with the union,” making the strike inevitable. This move followed a federal government order for binding arbitration after two weeks of turbulent discussions with the union.

Calgary-based WestJet expressed extreme outrage at the mechanics’ actions and vowed to hold AMFA accountable for the stress and costs incurred. Last year, WestJet narrowly averted a strike during the May long weekend, but this time, over 20,000 travelers will be impacted by the cancellations.

As the Canada Day long weekend approaches, passengers are left wondering about their travel plans, while the airline grapples with the unexpected labor disruption.

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