It would be too easy to describe 2023 as a year of rate hikes and 2024 as a year of potential rate cuts since that overstates the change in conditions, notes Jeffrey Kleintop. He discusses global central bank rate hikes, as well as when global central banks will begin cutting rates. He talks about how the US job report at the end of the week highlights the weakening global labor market. He looks at the Japan CPI year-over-year and composite PMI input prices, in addition to the outlook for the labor market. He highlights that Japan is the one major central bank expected to hike rates next year. Tune in to find out more about the stock market today.