Kinross Gold Corporation shares rise 2.92% premarket as investors await key economic data and potential Fed rate cut.

Kinross Gold Corporation rose 2.92% in premarket trading. The increase in stock price can be attributed to the overall market sentiment, as U.S. stock index futures fell on Tuesday, after the Labor Day holiday, as investors awaited crucial economic data in the week ahead that is expected to shape the Federal Reserve's stance on monetary easing. The August nonfarm payrolls report, due on Friday, is the centerpiece of the week and will follow a monthly private payrolls reading and job openings figures. Markets are pricing in about a 90% chance of a 25-basis-point cut in interest rates at the Fed's meeting later this month, according to the CME Group's FedWatch tool. Investors' dovish tilt came after July's weak job report, with Fed Chair Jerome Powell indicating a willingness to adjust monetary policy.