Could a weak nonfarm payroll report save the U.S. stock market on Tuesday? Morgan Stanley's chief strategist suggests that softer employment data may help drive equity markets higher.

Economists predict that non-farm payrolls may have experienced negative growth in October, with an increase of 50,000 expected in November and the unemployment rate reaching a four-year high. Wilson, Morgan Stanley’s chief U.S. equity strategist, believes that the market has returned to a state where positive economic data is interpreted as bad news for stocks, and weak labor market figures will raise the likelihood of further interest rate cuts next year. Citi forecasts a 17% rise in the S&P 500 next year, driven by strong earnings growth and accommodative monetary policy.

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The three major U.S. stock indexes closed lower collectively, with the Dow Jones Industrial Average down 0.09%, the Nasdaq Composite down 0.59%, and the S&P 500 Index down 0.16%. Broadcom fell more than 5%, while Apple and Amazon rose over 1%, and Tesla surged more than 3%.

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