US Futures Drop After S&P 500 Record; SAP Tumbles: Markets Wrap

Published On Sep 25, 2024, 3:52 AM

US stock futures fell after the S&P 500 had a record close, primarily influenced by a significant drop in SAP SE due to a US investigation into alleged price fixing on government contracts. Concerns over economic performance were highlighted by a steep decline in consumer sentiment and weaker manufacturing data, which prompted speculation of further interest rate cuts by the Federal Reserve. Meanwhile, China's economic stimulus measures are under scrutiny for their effectiveness following a significant drop in Chinese stock indexes.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

SAP View SAP chart on TradingView

Negative

SAP's drop may continue as the investigation could lead to financial penalties or reputational damage, affecting investor confidence. Given the current investigation and broader concerns about profitability, it is advisable to predict a negative direction for SAP stock.

SPY View SPY chart on TradingView

Negative

With anticipation of further interest rate cuts by the Fed and mixed economic data, broader market sentiment could remain cautious, potentially affecting ETFs like SPY which track the S&P 500. Therefore, the prediction is a slight negative direction for SPY in the short term until clearer economic signals emerge.

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