Adobe drops after forecasting 2025 revenue below estimates<br>
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Centene rises after guiding 2025 profit above expectations<br>
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Futures down: Dow 0.17%, S&P 500 0.20%, Nasdaq 0.35%<br>
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(Updates prices, adds comment)<br>
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By Purvi Agarwal and Shashwat Chauhan<br>
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Dec 12 (Reuters) -<br>
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Futures linked to Wall Street's main indexes took a pause <br>
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on Thursday after the S&P 500 and Nasdaq ended the previous session on a positive note, while investors <br>
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awaited some more economic data on the day.<br>
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The Nasdaq soared past the 20,000 mark for the first <br>
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time on Wednesday as the technology rally showed no signs of a halt, while <br>
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the S&P 500 closed at its highest in nearly a week <br>
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after an in-line inflation reading locked in a 25 basis point cut <br>
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by the Federal Reserve at its Dec. 17-18 meeting.<br>
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"The decline in inflation seems to have come to a halt during the autumn. Still, we do not see any acceleration as at the beginning of the year, and inflation is also closer to the inflation target now," economists at <br>
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SEB wrote in a note.<br>
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"We don't expect the latest inflation outcomes to stop a 25 basis point rate cut by the Fed next week, but a 'rate pause' in January seems likely (depending on how much the labor market slows down)."<br>
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Trader bets on the cut next week now stand at over 98%, according <br>
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to CME's FedWatch Tool. They had risen after a jobs report on Friday that showed unemployment rose last month despite a surge in jobs growth.<br>
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However, bets also indicate expectations of a pause in January after several Fed officials last <br>
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week urged caution over the pace of monetary policy easing as the economy remained resilient.<br>
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Data-wise, a November reading of producer prices is due at 8:30 a.m.<br>
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ET on the day that could further shed light on the <br>
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state of the economy, alongside a weekly reading of jobless claims.<br>
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At 7:04 a.m. ET., Dow E-minis were down 74 points, or 0.17%, S&P 500 E-minis <br>
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were down 12.25 points, or 0.2% and Nasdaq 100 E-minis were down 75.5 points, or 0.35%.<br>
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Wall Street's main indexes have set new record highs multiple <br>
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times this year, thanks to a rally driven by heavyweight tech stocks that have exploited the euphoria around artificial <br>
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intelligence and the Fed's interest rate cuts.<br>
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U.S. equities capped off a remarkable November after Donald Trump's victory in the presidential election on the prospects of business-friendly policies adding to corporate profits, and have <br>
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kicked off December on a broadly positive note.<br>
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However, analysts say that the incoming administration's <br>
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potential policies on tariffs could stoke fresh inflationary pressures.<br>
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Among significant premarket movers, Adobe slid 11% after <br>
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the Photoshop maker forecast fiscal 2025 revenue below Wall Street expectations on Wednesday.<br>
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Chewy was off 2.9% after its top stakeholder announced a stock offering to reduce <br>
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its stake in the pet products retailer.<br>
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Centene gained 1.9% after the health insurer<br>
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forecast<br>
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a better-than-expected profit for 2025.<br>
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(Reporting by Purvi Agarwal and Shashwat Chauhan in Bengaluru; Editing <br>
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by Maju Samuel)<br>
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Adobe drops after forecasting