Stock market today: S&P, Nasdaq edge higher to start jobs report week as Powell set to speak

Published On Sep 30, 2024, 12:27 PM

The stock market opened mixed as investors await Federal Reserve Chair Jerome Powell's upcoming speech, which could influence market trends ahead of the important September jobs report. While the S&P 500 and Nasdaq showed slight gains, the Dow Jones fell 0.2%. Despite the mixed signals today, the stocks are on track for solid quarterly gains. Meanwhile, automakers like Stellantis, General Motors, and Ford saw declines due to revised profit forecasts and economic concerns, particularly regarding supply chain issues.

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Stock Forecasts

STLAView STLA chart on TradingView

Negative

Investors should monitor the implications of Powell's comments on economic outlook and the upcoming jobs report. The performance of the stock indices suggests cautious optimism, but specific sectors are likely facing challenges, especially automotive due to profit warnings.

NVDAView NVDA chart on TradingView

Positive

Nvidia's market resilience indicates that despite geopolitical tensions, the semiconductor sector has a strong bullish outlook. Analysts remain positive, expecting significant price targets which could drive investor confidence.

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