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.

Read full article

Stock Forecasts

FView F chart on TradingView

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.

STLAView STLA chart on TradingView

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.

Related News

Stock market today: Nasdaq leads stock declines after mixed jobs and economic data, oil spikes on Iran reports

Oct 1, 2024, 10:51 AM

Investors are looking to job openings and manufacturing data to provide clues to rate cuts as they digest Powell's latest comments.

SPY
XLE
STLA
AAPL

Dodge-parent Stellantis tumbles on warning, dragging auto stocks lower

Sep 30, 2024, 12:51 PM

Stellantis stock tumbled 13% early Monday after the company issued a stark warning about its North American operations, dragging other auto stocks lower in sympathy.

STLA

Stock market today: S&P, Nasdaq edge higher to start jobs report week as Powell set to speak

Sep 30, 2024, 12:27 PM

The market is bracing for the September US jobs report, set to test the upbeat tone in stocks.

STLA
NVDA