Stock market today: US futures point to downbeat start to big jobs report week

Published On Sep 30, 2024, 7:27 AM

U.S. stock futures are pointing lower as investors await the release of the key jobs report later this week. The Dow Jones, S&P 500, and Nasdaq futures have all slipped slightly, yet they are expected to finish September with gains. The report is anticipated to provide insight into the health of the labor market and the economy, impacting the Federal Reserve's future interest rate decisions.

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Stock Forecasts

SPYView SPY chart on TradingView

Negative

Considering the anticipated labor market slowdown and recent investor sentiment due to profit warnings from automakers, the market might see pressure in the short term. The upcoming jobs report could further influence investor confidence and trading patterns.

QQQView QQQ chart on TradingView

Positive

However, tech stocks may remain resilient due to strong fundamentals and continued demand, particularly in the context of ongoing investor interest in AI developments. Thus, some ETFs tracking tech stocks could benefit.

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