On October 4th, after the non-farm announcement, CME "Federal Reserve Watch" showed that the probability of the Federal Reserve cutting interest rates by 25 basis points in November was 89.4%, and the probability of cutting interest rates by 50 basis points was 10.6%. By December, the probability of reducing interest rates by 50 basis points was 74.5%, and the probability of reducing interest rates by 75 basis points was 23.7%; the probability of reducing interest rates by 100 basis points was 1.8%. Before the non-farm announcement, the probability of the Federal Reserve cutting interest rates by 25 basis points in November was 71.5%, and the probability of reducing interest rates by 50 basis points was 28.5%. The probability of a cumulative rate cut of 50 basis points by December is 45.8%, the probability of a cumulative rate cut of 75 basis points is 44.0%; the probability of a cumulative rate cut of 100 basis points is 10.2%.