Stephen Innes, managing partner at SPI Asset Management, not...

Stephen Innes, managing partner at SPI Asset Management, noted that the US jobs report for December holds the potential to influence market sentiment.

The report is scheduled to be released later on Friday.

A too-strong report could be a setback for stocks, aligning with expectations of rate cuts in the second half of 2024, he said. “Conversely, if the report aligns with or falls slightly short of expectations, it may reinforce beliefs in an imminent rate cut, potentially sparking a rally.”