Stocks Face Test After November Rally as Key Data Weighs on Rate Cut Bets
• Wall Street set to open lower ahead of economic data that could test views on potential Fed rate cuts
• Stocks rose in November on strong earnings and expectations of peak rates; S&P 500 hit highest close of the year Friday
• Traders betting on rate cuts starting as soon as March 2024, but some say markets too quick to price in cuts
• Key economic reports this week could provide clues on rate path and potential for "soft landing"
• Megacap tech stocks like Nvidia, Meta, Apple edge lower premarket; airline stocks in focus after Alaska Air's deal to buy Hawaiian