Stocks Fall Pre-Bell as Data Release Uncertainty Clouds Fed Rate Cut Hopes

07:28 AM EST, 11/14/2025 (MT Newswires) -- The benchmark US stock measures were tracking in the red before Friday's open as uncertainty around economic data releases weighed on hopes for a potential interest rate cut in December.

The S&P 500 decreased 0.2%, the Dow Jones Industrial Average edged down 0.1% and the Nasdaq was off 0.4% in premarket activity. The indexes finished Thursday lower, with the Nasdaq recording its biggest single-day slump since Oct. 10. The Dow retreated from a record closing level, while the S&P 500 snapped a four-day advance.

Earlier in the week, President Donald Trump signed legislation to end the longest federal government shutdown in US history, restoring funding after a 43-day lapse that idled federal workers and delayed the release of key economic data.

Although the government shutdown has ended, investors remain uncertain about the release of delayed and upcoming economic data. The consumer inflation report for October and the weekly jobless claims bulletin were not released on their original schedule for Thursday, while the producer prices and retail sales reports for last month are not expected to be announced on Friday, Stifel said in a note.

"The first report that will likely be released is the September employment report as the data was collected prior to the shutdown," according to Stifel. The government will release the jobs report for October, but without the unemployment rate, Reuters reported Thursday, citing White House economic adviser Kevin Hassett's interview with Fox News.

Treasury yields were up in premarket action, with the two-year rate gaining 0.2 basis points to 3.59% and the 10-year rate rising 2.2 basis points to 4.13%.

The probability of the Federal Reserve keeping its benchmark lending rate steady at its December meeting is 50% on Friday, according to the CME FedWatch tool.

"When the Fed meets on Dec. 10, it may not have much recent price data, apart from what the Fed itself may have collected from third parties and its own surveying efforts," Macquarie said in a report Thursday. "We suspect that 'missing data' is a factor that may sway the (Federal Open Market Committee) to stay 'on hold' out of a desire to 'slow down when you're driving in a fog.'"

Minneapolis Fed President Neel Kashkari said Thursday he didn't support the central bank's interest rate cut in October, and he's still undecided on the best course of action for its December policy meeting, according to Bloomberg News.

Kansas City Fed President Jeffrey Schmid is slated to speak at 10:05 am, while Dallas Fed President Lorie Logan speaks at 2:30 pm. Atlanta Fed President Raphael Bostic's remarks are due at 3:20 pm.

Shares of Tesla (TSLA) fell 3.4% pre-bell after closing the previous trading session down 6.6%. Applied Materials (AMAT) slipped 5.9% as revenue in the company's semiconductor systems segment declined for the fiscal fourth quarter.

West Texas Intermediate crude oil advanced 2.5% to $60.17 a barrel before the opening bell. The International Energy Agency on Thursday raised its global oil supply growth estimates for 2025 and 2026 and warned that market balances appear "increasingly lopsided," with demand lagging.

Gold declined 1.1% to $4,148 per troy ounce, while bitcoin slid 2% to $96,348.

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