A critical labor report meets a stock market at record highs: What to know this week

Published On Sep 29, 2024, 7:30 AM

This week, the U.S. stock market is positioned at record highs as investors await critical economic data, particularly the September jobs report. The S&P 500 has shown positive momentum, rising around 0.7%, while the Nasdaq increased by nearly 1%. The upcoming jobs report is expected to show a modest addition of 130,000 jobs, with the unemployment rate holding steady at 4.2%. In the corporate sector, both Tesla and Nike are in focus: Tesla is set to report strong sales figures, while Nike is expected to release disappointing earnings amid challenges in revenue growth and an upcoming leadership change.

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Stock Forecasts

TSLAView TSLA chart on TradingView

Positive

Anticipation around Tesla's delivery numbers is likely to boost investor confidence, especially with a projected increase in deliveries. However, cautious sentiment may linger around Nike due to expected revenue declines and leadership changes.

NKEView NKE chart on TradingView

Negative

Nike's earnings report could generate negative market reactions if the results and future guidance are below expectations, reflecting ongoing struggles to rejuvenate growth in a competitive market.

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