Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Monday following Friday’s mixed close. Futures of major benchmark indices were higher.
Based on the latest Empire State Manufacturing Survey, business activity in New York State saw a modest decline in September. The general business conditions index took a significant 21-point dip to -8.7, marking its first return to negative territory since June. This downturn was largely fueled by sharp decreases in new orders and shipments. While employment levels remained steady, the outlook for the next six months has dampened, with firms expressing subdued optimism and soft plans for capital spending.
Ahead of the Federal Reserve’s key vote on interest rates this week, the Justice Department has made a fresh attempt to stay a lower court’s injunction blocking President Donald Trump‘s firing of Fed Governor Lisa Cook.
The investors will eye the key decision by the Federal Reserve to cut interest rates on Wednesday, in the Federal Open Market Committee meeting beginning on Tuesday.
The 10-year Treasury bond yielded 4.07% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool’s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | 0.20% |
| S&P 500 | 0.06% |
| Nasdaq 100 | -0.08% |
| Russell 2000 | 0.35% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.26% at $659.11, while the QQQ advanced 0.19% to $587.76, according to Benzinga Pro data.
Cues From Last Session
Industrials, health care, and materials stocks recorded the biggest losses on Friday, leading most sectors on the S&P 500 to a negative close. Consumer discretionary and utilities stocks, however, bucked the overall market trend by closing higher. This divergence led to U.S. stocks settling mixed.
Despite Friday’s divergence, all three major U.S. equity benchmarks gained last week, with the S&P 500 notching its best weekly performance since August and the Dow adding around 1%.
Adobe Inc. (NASDAQ:ADBE) posted better-than-expected third-quarter results and raised its fiscal 2025 outlook, while IBEX Ltd. (NASDAQ:IBEX) shares jumped more than 36% on Friday after its own upbeat financial report and guidance.
On the economic front, the University of Michigan consumer sentiment declined to 55.4 in September from 58 in August, and compared to market estimates of 58.
The Dow Jones index ended 274 points or 0.59% lower at 45,834.22, whereas the S&P 500 index fell 0.048% to 6,584.29. Nasdaq Composite advanced 0.44% to 22,141.10, and the …
Full story available on Benzinga.com
Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Monday following Friday’s mixed close. Futures of major benchmark indices were higher.
Based on the latest Empire State Manufacturing Survey, business activity in New York State saw a modest decline in September. The general business conditions index took a significant 21-point dip to -8.7, marking its first return to negative territory since June. This downturn was largely fueled by sharp decreases in new orders and shipments. While employment levels remained steady, the outlook for the next six months has dampened, with firms expressing subdued optimism and soft plans for capital spending.
Ahead of the Federal Reserve’s key vote on interest rates this week, the Justice Department has made a fresh attempt to stay a lower court’s injunction blocking President Donald Trump‘s firing of Fed Governor Lisa Cook.
The investors will eye the key decision by the Federal Reserve to cut interest rates on Wednesday, in the Federal Open Market Committee meeting beginning on Tuesday.
The 10-year Treasury bond yielded 4.07% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool’s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | 0.20% |
| S&P 500 | 0.06% |
| Nasdaq 100 | -0.08% |
| Russell 2000 | 0.35% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.26% at $659.11, while the QQQ advanced 0.19% to $587.76, according to Benzinga Pro data.
Cues From Last Session
Industrials, health care, and materials stocks recorded the biggest losses on Friday, leading most sectors on the S&P 500 to a negative close. Consumer discretionary and utilities stocks, however, bucked the overall market trend by closing higher. This divergence led to U.S. stocks settling mixed.
Despite Friday’s divergence, all three major U.S. equity benchmarks gained last week, with the S&P 500 notching its best weekly performance since August and the Dow adding around 1%.
Adobe Inc. (NASDAQ:ADBE) posted better-than-expected third-quarter results and raised its fiscal 2025 outlook, while IBEX Ltd. (NASDAQ:IBEX) shares jumped more than 36% on Friday after its own upbeat financial report and guidance.
On the economic front, the University of Michigan consumer sentiment declined to 55.4 in September from 58 in August, and compared to market estimates of 58.
The Dow Jones index ended 274 points or 0.59% lower at 45,834.22, whereas the S&P 500 index fell 0.048% to 6,584.29. Nasdaq Composite advanced 0.44% to 22,141.10, and the …
Full story available on Benzinga.com
Editor’s Note: The future prices of benchmark tracking ETFs, the lede, and the latest economic releases were updated in the story.
U.S. stock futures advanced on Monday following Friday’s mixed close. Futures of major benchmark indices were higher.
Based on the latest Empire State Manufacturing Survey, business activity in New York State saw a modest decline in September. The general business conditions index took a significant 21-point dip to -8.7, marking its first return to negative territory since June. This downturn was largely fueled by sharp decreases in new orders and shipments. While employment levels remained steady, the outlook for the next six months has dampened, with firms expressing subdued optimism and soft plans for capital spending.
Ahead of the Federal Reserve’s key vote on interest rates this week, the Justice Department has made a fresh attempt to stay a lower court’s injunction blocking President Donald Trump’s firing of Fed Governor Lisa Cook.
The investors will eye the key decision by the Federal Reserve to cut interest rates on Wednesday, in the Federal Open Market Committee meeting beginning on Tuesday.
The 10-year Treasury bond yielded 4.07% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool’s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
Futures
Change (+/-)
Dow Jones
0.20%
S&P 500
0.06%
Nasdaq 100
-0.08%
Russell 2000
0.35%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 0.26% at $659.11, while the QQQ advanced 0.19% to $587.76, according to Benzinga Pro data.
Cues From Last Session
Industrials, health care, and materials stocks recorded the biggest losses on Friday, leading most sectors on the S&P 500 to a negative close. Consumer discretionary and utilities stocks, however, bucked the overall market trend by closing higher. This divergence led to U.S. stocks settling mixed.
Despite Friday’s divergence, all three major U.S. equity benchmarks gained last week, with the S&P 500 notching its best weekly performance since August and the Dow adding around 1%.
Adobe Inc. (NASDAQ:ADBE) posted better-than-expected third-quarter results and raised its fiscal 2025 outlook, while IBEX Ltd. (NASDAQ:IBEX) shares jumped more than 36% on Friday after its own upbeat financial report and guidance.
On the economic front, the University of Michigan consumer sentiment declined to 55.4 in September from 58 in August, and compared to market estimates of 58.
The Dow Jones index ended 274 points or 0.59% lower at 45,834.22, whereas the S&P 500 index fell 0.048% to 6,584.29. Nasdaq Composite advanced 0.44% to 22,141.10, and the …Full story available on Benzinga.com Read MoreADBE, CHEK, Earnings, Equities, HAIN, IBEX, Market Summary, MWG, NVDA, PLAY, PSKY, QQQ, SPY, SW, WBD, Futures, Commodities, Treasuries, Top Stories, Economics, Federal Reserve, Pre-Market Outlook, Markets, SPY, US78462F1030, ADBE, US00724F1012, HAIN, US4052171000, NVDA, US67066G1040, MWG, WBD, IBEX, QQQ, US73935A1043, PLAY, CHEK, SW, PSKY, Earnings, Equities, Market Summary, Futures, Commodities, Treasuries, Top Stories, Economics, Federal Reserve, Pre-Market Outlook, Markets, Benzinga Markets
