John Choong, head of markets and research at Investors Edge, said that after the November non-farm payrolls report was released, the market predicted a more than 90% chance of the Federal Reserve cutting interest rates this month, which has exceeded market expectations. Traders seem to be focusing on the U.S. job market, while not cooling, but also showing no signs of warming up. But Choong interprets the data differently. He believes that the November non-farm payrolls data shows that last month's weakness is only a temporary phenomenon caused by hurricanes, and that the U.S. labor market is resilient. The Fed needs to be careful to "thread the needle" because they can't cut rates prematurely if inflation remains stubbornly high. He expects interest rate cut expectations to be repriced "because the strength of today's data challenges the view of a December rate cut."