Stock market today: S&P 500, Nasdaq futures hold steady in wait for more inflation data

Given the strong performance of tech stocks like Nvidia and Meta, coupled with the forecast of a Federal Reserve interest rate cut which typically bolsters equity markets, I predict a positive direction for major tech stocks.

Moderna's lowered revenue outlook suggests declining confidence in its future revenue, which could lead to further drops in its stock price as investor sentiment worsens.

The anticipated Fed rate cut will likely benefit broad market indices, including the S&P 500 and Nasdaq, leading to continued confidence and investment in these ETFs.

The increase in oil prices due to production disruptions from Hurricane Francine may lead to a stronger outlook for oil companies, particularly amidst the volatility in oil prices. Therefore, investment in oil-focused ETFs may be favorable.