Stock market today: US futures slip with focus on jobs report, wait for Mideast moves

Published On Oct 3, 2024, 7:00 AM

U.S. stock futures fell as investors focused on upcoming economic indicators, particularly the jobs report, amid ongoing concerns surrounding the Middle East conflict. Notably, S&P 500 futures dropped 0.3%, and concerns about high oil prices were exacerbated by these geopolitical tensions. The labor market appears to be loosening, which may impact upcoming Federal Reserve interest rate decisions. Companies like Levi Strauss and Tesla have experienced significant drops in stock prices due to disappointing financial results.

Stock Forecasts

Given the potential impact of the upcoming jobs report on Fed interest rate policies and the implications of rising oil prices due to geopolitical tensions, overall market sentiment might waver, potentially leaning towards a bearish outlook in the short term.

Tesla's recent poor delivery figures and negative market reactions suggest a challenging outlook for its stock. The halt on online orders for the Model 3 could further harm investor confidence. Hence, investors might expect continued weakness in the stock's performance.

Levi Strauss's significant drop in share price following its disappointing revenue forecast indicates a negative sentiment around the stock. With strategic reviews ongoing, there may be further pressure on its valuation in the near term.

Related News

Gerber Kawasaki CEO Ross Gerber comments on Tesla’s ‘We, Robot’ event and the market reaction on ‘The Claman Countdown.’

A district court ruled that Sweden’s constitution prevented it from taking a side in a labor dispute between Tesla and local unions that has dragged on for 11 months.

Investors were left with more questions than answers, it seems, following Tesla’s “We, Robot” robotaxi event on Thursday night.