Stock market today: Dow, Nasdaq edge lower to start jobs report week as Powell set to speak

Published On Sep 30, 2024, 11:42 AM

US stock markets showed slight declines on Monday, ahead of essential economic data and a speech from Federal Reserve Chair Jerome Powell, while still poised for significant monthly and quarterly gains. Investors are particularly focused on the upcoming September jobs report, as it may indicate the health of the economy and influence Federal Reserve policies. Additionally, there was negative news from the automotive sector, with Stellantis cutting its profit forecast, which adversely affected stocks for Ford and GM, while DirecTV announced an acquisition of Dish Network, potentially reshaping the media landscape.

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Stock Forecasts

AI prediction results, not representative of any investment advice.

F View F chart on TradingView

Negative

The negative outlook from Stellantis reflects broader challenges in the auto industry, and may suggest further weakness in its competitors, leading to a potential decline in their stock prices. Investors should be cautious regarding the auto sector, especially Ford and GM.

SATS View SATS chart on TradingView

Positive

The merger between DirecTV and Dish Network could enhance competition in the pay-TV market, potentially leading to an increase in value and stock price for EchoStar and its acquisitions. This may suggest a positive outlook for the combined entity if they can effectively compete with larger streaming services.

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