Stock futures are little changed as investors await major Fed decision

Published On Sep 15, 2024, 6:03 PM

The S&P 500 and Dow Jones closed higher, with the S&P up 0.13% at 5,633.09 and the Dow up 0.55% at 41,622.08. Oil stocks saw significant gains with companies like APA and Marathon Oil rising by 2%. Financials were the most net bought sector according to Goldman Sachs, indicating renewed interest from hedge funds. Meanwhile, Apple shares dropped by about 3% due to concerns about sluggish demand for the new iPhone 16. Additionally, Amazon announced a return to in-person work for employees five days a week, which had a minor impact on its stock. Commercial developments, notably in the semiconductor and oil services sectors, showed contrasting performances, with semiconductors experiencing a decline while oil services stocks rose.

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Stock Forecasts

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Negative

Apple's reduced status as a growth engine and its market performance will likely lead to continued volatility in its stock. Concerns around iPhone demand could keep the stock under pressure in the near term.

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