Stock market today: S&P 500, Nasdaq futures hold steady amid more inflation cooldown
Published On Sep 12, 2024, 8:48 AM
On Thursday, US stocks saw a boost as fresh inflation and labor data raised expectations for a modest interest-rate cut. The S&P 500 and Nasdaq Composite both recorded gains for the fourth consecutive day, with tech companies leading the way. The Producer Price Index indicated cooling inflation, reinforcing expectations that the Federal Reserve will opt for a 25 basis point rate cut next week. However, Moderna's shares plummeted after the company reduced its revenue outlook for 2025. Additionally, gold prices soared to an all-time high as investors await the Fed's decision.
Stock Forecasts
NVDA
Positive
The distinct upward trend in technology stocks, particularly Nvidia and Meta, suggests a positive outlook for the tech sector, especially with renewed investor confidence driven by a potential rate cut from the Fed. Additionally, the overall improvement in market sentiment about inflation and economic conditions supports this bullish view.
MRNA
Negative
Moderna's significant drop in share price after revising its revenue forecast down indicates negative sentiment around the company. This could cause further declines in the stock price as investors react to the news and uncertainty regarding the company's future performance.
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