Stock market today: US futures point to downbeat start to jobs report week with Powell set to speak
Published On Sep 30, 2024, 7:27 AM
US futures are pointing lower at the start of the week, influenced by upcoming remarks from Federal Reserve Chair Jerome Powell and concerns about the forthcoming jobs report. Although stocks are experiencing a down day, they have overall maintained strong monthly and quarterly gains following a recent Federal Reserve rate cut and signs of economic resilience. However, profit warnings from major automakers like Stellantis are adding to the cautious sentiment in the market.
Stock Forecasts
F
Negative
The ongoing risk of economic slowdown amid mixed signals from various sectors might dampen investor enthusiasm. The upcoming jobs report could be a pivotal moment reflecting the health of the labor market, likely influencing Fed policy. Profit warnings from automakers can negatively affect related stocks and broader market sentiment.
STLA
Negative
Stellantis, with a significant drop in share price following its profit warning, highlights potential weakness in the automotive sector. Other automakers may also experience selling pressure, potentially affecting investor confidence in the sector as a whole.
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