"he is not coming" = Statement of future fact based on present knowledge. "he will not come" = Speaker's relation of 'his' decision not to come, or speaker's opinion on what 'he' will do.
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Mister Micawber Speaker's relation of 'his' decision not to come
faximiliTo me, "He is not coming" sounds like you're telling me something you know for a fact: you talked to our friend earlier and he told you he would not come, and now you're telling me.On the other hand, "He will not come" sounds like a prediction you are making: I asked if you thought our friend would come to the party, and you shook your head and said,