Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures rose on Wednesday following Tuesday’s declines. Futures of major benchmark indices were higher.
Federal Reserve Chair Jerome Powell acknowledged that “by many measures… equity prices are fairly highly valued,” on Tuesday.
However, while acknowledging the high valuations, Powell sought to temper immediate fears. He added that he does not believe this is a “time of elevated financial stability risks,” suggesting the central bank is not yet alarmed about systemic threats from asset prices.
Investors are eyeing the release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures Price Index or PCE Index, scheduled to be released on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.10% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.07% |
| S&P 500 | 0.16% |
| Nasdaq 100 | 0.29% |
| Russell 2000 | 0.06% |
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 Wednesday. The SPY was up 0.19% at $664.45, while the QQQ rose 0.26% to $599.76, according to Benzinga Pro data.
Cues From Last Session
Energy, real estate, and utilities stocks recorded the biggest gains on Tuesday, leading most sectors on the S&P 500 to a positive close. However, information technology and consumer discretionary stocks bucked the overall market trend, contributing to U.S. stocks settling lower.
The Nasdaq Composite fell more than 200 points during the session, and the S&P 500 ended a 3-day winning streak.
Among specific movers, Nvidia Corp. (NASDAQ:NVDA) shares fell 2.8% on Tuesday, a day after the company announced a $100 billion investment in OpenAI.
On the economic front, softer growth was signaled as the S&P Global U.S. Composite PMI slowed to 53.6 in September. In other data, the U.S. current account deficit significantly shrank by 42.9% to …
Full story available on Benzinga.com
Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures rose on Wednesday following Tuesday’s declines. Futures of major benchmark indices were higher.
Federal Reserve Chair Jerome Powell acknowledged that “by many measures… equity prices are fairly highly valued,” on Tuesday.
However, while acknowledging the high valuations, Powell sought to temper immediate fears. He added that he does not believe this is a “time of elevated financial stability risks,” suggesting the central bank is not yet alarmed about systemic threats from asset prices.
Investors are eyeing the release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures Price Index or PCE Index, scheduled to be released on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.10% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.07% |
| S&P 500 | 0.16% |
| Nasdaq 100 | 0.29% |
| Russell 2000 | 0.06% |
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 Wednesday. The SPY was up 0.19% at $664.45, while the QQQ rose 0.26% to $599.76, according to Benzinga Pro data.
Cues From Last Session
Energy, real estate, and utilities stocks recorded the biggest gains on Tuesday, leading most sectors on the S&P 500 to a positive close. However, information technology and consumer discretionary stocks bucked the overall market trend, contributing to U.S. stocks settling lower.
The Nasdaq Composite fell more than 200 points during the session, and the S&P 500 ended a 3-day winning streak.
Among specific movers, Nvidia Corp. (NASDAQ:NVDA) shares fell 2.8% on Tuesday, a day after the company announced a $100 billion investment in OpenAI.
On the economic front, softer growth was signaled as the S&P Global U.S. Composite PMI slowed to 53.6 in September. In other data, the U.S. current account deficit significantly shrank by 42.9% to …
Full story available on Benzinga.com
Editor’s Note: The future prices of benchmark tracking ETFs were updated in the story.
U.S. stock futures rose on Wednesday following Tuesday’s declines. Futures of major benchmark indices were higher.
Federal Reserve Chair Jerome Powell acknowledged that “by many measures… equity prices are fairly highly valued,” on Tuesday.
However, while acknowledging the high valuations, Powell sought to temper immediate fears. He added that he does not believe this is a “time of elevated financial stability risks,” suggesting the central bank is not yet alarmed about systemic threats from asset prices.
Investors are eyeing the release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures Price Index or PCE Index, scheduled to be released on Friday.
Meanwhile, the 10-year Treasury bond yielded 4.10% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.1% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
0.07%
S&P 500
0.16%
Nasdaq 100
0.29%
Russell 2000
0.06%
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 Wednesday. The SPY was up 0.19% at $664.45, while the QQQ rose 0.26% to $599.76, according to Benzinga Pro data.
Cues From Last Session
Energy, real estate, and utilities stocks recorded the biggest gains on Tuesday, leading most sectors on the S&P 500 to a positive close. However, information technology and consumer discretionary stocks bucked the overall market trend, contributing to U.S. stocks settling lower.
The Nasdaq Composite fell more than 200 points during the session, and the S&P 500 ended a 3-day winning streak.
Among specific movers, Nvidia Corp. (NASDAQ:NVDA) shares fell 2.8% on Tuesday, a day after the company announced a $100 billion investment in OpenAI.
On the economic front, softer growth was signaled as the S&P Global U.S. Composite PMI slowed to 53.6 in September. In other data, the U.S. current account deficit significantly shrank by 42.9% to …Full story available on Benzinga.com Read MoreAACT, AIR, AQMS, CTAS, Earnings, Earnings Beats, Equities, KBH, Market Summary, MU, News, NVDA, QQQ, SHFS, SPY, THO, YAAS, Bonds, Emerging Markets, Eurozone, Futures, Commodities, Forex, Treasuries, Econ #s, Economics, Federal Reserve, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, SPY, US78462F1030, CTAS, US1729081059, NVDA, US67066G1040, AIR, US0003611052, KBH, US48666K1097, MU, US5951121038, THO, US8851601018, QQQ, US73935A1043, AQMS, SHFS, AACT, YAAS, Earnings Beats, Market Summary, News, Earnings, Equities, Bonds, Emerging Markets, Eurozone, Futures, Commodities, Forex, Treasuries, Econ #s, Economics, Federal Reserve, Pre-Market Outlook, Markets, Analyst Ratings, Trading Ideas, Benzinga Markets
