Stock market today: Nasdaq, S&P 500 futures slide amid more soft jobs market data

Published On Sep 5, 2024, 8:41 AM

US stocks showed mixed results as traders reacted to disappointing labor market data, indicating slower hiring growth. The S&P 500 dropped 0.3%, while the Dow decreased by 0.5%. Conversely, the Nasdaq Composite saw a slight gain of 0.2%. The data, including the smallest job growth since January 2021, raises concerns about the economy heading into a key jobs report. Investors are uncertain how bad news might influence the Federal Reserve's decision on interest rate cuts, with expectations oscillating between a 0.25% and a 0.5% cut in the upcoming meeting.

Stock Forecasts

C3.ai is facing challenges following a significant drop in subscription revenue, which could impact investor sentiment negatively, especially as the company is already underperforming this year. Expect further declines as the market reacts to weaker earnings.

Tesla's plans to maintain its rollout of Full Self-Driving capabilities may bolster its stock in the long term; however, the current market environment suggests caution, and any negative economic indicators could impact its stock negatively in the short run.

Hewlett Packard Enterprise (HPE) disappointed with lower profitability in its AI segment, likely leading to further stock declines as investors reassess its growth potential in a competitive market.

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