The three major indexes of US stocks fluctuated lower, with the S & P 500 down 0.68%, the Nasdaq down 0.44% and the Dow down 0.71% as of press time.

The market is still assessing the Fed's monetary policy stance. Powell, chairman of the Federal Reserve, hinted last week that the Fed may slow the pace of raising interest rates from December.

The Fed, which holds a two-day monetary policy meeting on December 13-14, is widely expected to raise interest rates by 50 basis points.

The strong non-farm payrolls data rattled the US stock market on Friday as many investors thought it showed that inflationary pressures in the US would remain high in the future, forcing the Fed to stick to its hawkish policy stance. But then investors in US stocks seemed to shake off the data.

Nicholas Bohnsack, an analyst at Baird brokerage, said: "one of the things we worry about is that even if inflation starts to fall from now on, the cost of bringing inflation down from 4 per cent to 2 per cent will become higher and higher. This process will be accompanied by severe upheaval in the corporate and labor markets. "

"We think the Fed will eventually slow down the pace of rate hikes and take a long time to observe the status quo and the possible impact of the rate hike," Bohnsack said.

Traders are looking at the first signs that the Fed's sharp rate hikes are starting to hit companies hard. Leveraged loans in the United States indicate that the quality of corporate credit is deteriorating, according to a survey.

Many market participants expect the default rate on leveraged loans to rise sharply if US interest rates peak at or below 5 per cent. Another 63% believe that if interest rates peak at more than 5%, the default rate will soar.

On the economic data side, investors in US stocks will usher in the November ISM services index on Monday. The market expects the index to be 53.7.

Michael Wilson, a famous US stock short and Morgan Stanley strategist, is returning to the short camp. The strategist, one of the most outspoken skeptics in the US stock market, believes that US stocks have rebounded enough recently, and he advises investors to lock in profits.

"We are now bears again," said Wilson, who expects the S & P to resume its decline after breaking its 200-day moving average last week, saying the downtrend since the start of the year has not changed.

"this makes the current risk and return on investment for more upside opportunities very low," he said. "

The comments mark a shift in the view of the Wilson, who said last week that the tactical recovery of the S & P 500s could continue into December and would come under pressure from weaker corporate profits next year.

Focus stocks

Star technology stocks go up and down.Tesla, Inc. fell more than 4%, Amazon.Com Inc and Microsoft Corp fell slightly, and Apple Inc rose nearly 2%.

Hot Chinese stocks opened high and then went down.Bilibili Inc. and Baidu, Inc. rose by more than 3%, XPeng Inc. by nearly 3%, and NIO Inc. and Pinduoduo fell by more than 1%.

Some WSB concept stocks pull up.Tilray is up more than 7% 3B home furnishings by 5%.

$Tesla (TSLA.US)$Fell more than 4%, there are rumors that Tesla, Inc. Shanghai factory Model Y will reduce production by more than 20% in December, but Tesla, Inc. Chinese sources responded that the rumor is not true.

$Credit Suisse (CS.US)$It rose more than 5% after it was reported that the Saudi crown prince was preparing to invest about $500 million in first Boston, the investment banking arm spun off by Credit Suisse.

$Apple (AAPL.US)$Up nearly 2%, Guo Mingyi warmed up Apple Inc's XR to delay the listing, and the annual shipment will be less than 500000.

$Horizon Therapeutics (HZNP.US)$After falling more than 4%, Johnson & Johnson announced his withdrawal from the Horizon acquisition, which had been reported to be worth more than $20 billion.