Major indices are all in the green and have moved off session lows. This comes following rate cut odds edging higher on this morning’s jobs data, additional economic releases, and improvement from earlier losses on mega-cap and technology names.

Microsoft (MSFT) is leading the Magnificent Seven pack lower after it reportedly lowered its AI software sales quota. However, a spokesperson from the company refuted the claim.

Only three sectors are in the red this afternoon. Utilities (XLU) and Technology (XLK) are the worst performers, while Energy (XLE) is in the lead, with oil and natural gas prices edging higher on further uncertainty with regards to Russia and Ukraine as well as Venezuela tensions. Financials (XLF) are also moving higher, with regional banks giving the sector a boost, as well as crypto stocks, as Bitcoin continues to rebound.

In other news, The Trump administration is also reportedly planning to set up a robotics working group and considering issuing an executive order to give the space a boost.

ISM Services PMI edged up to 52.6 in November from 52.4 in October and above estimates of 52.1.

Notable Points:

• Business activity edged higher to 54.5 from 54.3
• New orders decelerated to 52.9 from 56.2
• Backlog for new orders improved to 49.1 from 40.8
• Employment marginally improved to 48.9 from 48.2

Prices paid dropped by the most since March 2024, the lowest level since April.