Stock market today: US futures slide as growth worries weigh on spirits

Published On Sep 4, 2024, 7:16 AM

U.S. stocks experienced mixed results amid concerns over economic growth, with the S&P 500 and Nasdaq declining while the Dow Jones rose slightly. Nvidia's significant market value loss reflected waning confidence in the AI sector, following an intensified antitrust investigation. Job openings fell to their lowest since January 2021, indicating a cooling labor market, and led to increased expectations for interest rate cuts by the Federal Reserve. Mixed sector performances were noted, with utilities and consumer staples leading gains, while technology sectors lagged.

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Stock Forecasts

XLPView XLP chart on TradingView

Positive

Given the cooling labor market and expectations for interest rate cuts, sectors like utilities and consumer staples may continue to perform well as investors seek stability amid uncertainty.

NVDAView NVDA chart on TradingView

Negative

Investors' sentiment around technology stocks may remain cautious, particularly with Nvidia facing regulatory challenges, indicating potential further declines in tech shares in the near term.

XLREView XLRE chart on TradingView

Negative

The continued softening in job market data points to a potential decline in real estate stocks as market participants may adopt a more cautious stance towards investments in this sector.

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