Traders work on the floor of the New York Stock Exchange (NYSE) on September 9, 2024 in New York City.
Spencer Pratt | Getty Images
Stock index futures fell Tuesday morning after the major indexes rebounded from their worst week of 2024.
Futures linked to the S&P 500 Index decreased by 0.12%, while Nasdaq 100 Futures down 0.28%. Dow Jones Industrial Average Futures down 0.15%.
Extended trading, cloud platform company Oracle The company’s shares soared nearly 9% after reporting fiscal first-quarter results that beat expectations. Oracle also announced a partnership with Amazon Web Services Provide database services.
The three major stock indexes rebounded sharply on Monday after their worst week of the year as investors bought the dip. this S&P 500 Index Shares rose 1.16%, ending a four-day losing streak and recording their first positive day in September. this Nasdaq Index The closing price also rose by 1.16%, driven by the rise in Nvidia’s stock price. this Dow Chemical Up 484 points, or 1.2%.
The measures come as investors bet that a widely expected rate cut at the Federal Reserve’s Sept. 17-18 meeting could help ease concerns about economic weakness. The August non-farm payrolls report released last Friday showed that employment increased by 142,000, lower than economists’ expectations. The result fueled the day’s sell-off.
Traders are eyeing two important economic reports that could serve as the next catalyst for stocks. The consumer price index report for August will be released on Wednesday, followed by the producer price index on Thursday.
Historically, September is a weak month for the stock market. Investors remain cautious about the impact of seasonal factors on stock performance and uncertainty about the upcoming Nov. 5 U.S. presidential election.
“We agree that markets are likely to remain volatile at least until the election,” Ohsung Kwon, equity and quant strategist at Bank of America, wrote on Monday. “Macro data has been weakening, especially for the manufacturing/commodity sector, which accounts for more than half of the S&P 500 50% of the index profit.”
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