Wall Street Awaits Crucial Economic Indicators with Intel Surge Amid Leadership Shift

The U.S. stock market braced for significant economic data releases, highlighting Wall Street's anticipation of trends in the labor market. Intel's shares rose following the retirement of its CEO, while projections suggest a possible Federal Reserve rate cut. Meanwhile, Novartis' licensing deal with PTC Therapeutics sparked notable stock movement.

Wall Street is poised for a calm start this Monday as traders eagerly anticipate a week packed with key economic data releases. Intel captured attention with its stock gaining traction post-announcement of its CEO's retirement, amid challenges in the AI chip sector.

Investor focus is on Friday's release of November's significant nonfarm payrolls report, crucial for understanding labor market dynamics. Projections also lean towards a potential Federal Reserve rate cut later this month in response to ongoing economic resilience.

Market watchers will scrutinize additional economic activity surveys alongside Federal Reserve speakers, including Chair Jerome Powell. Intel's stock surge, coupled with major movements by PTC Therapeutics and Cloudflare, contributed to the early market activity.

(With inputs from agencies.)