Why Dow and S&P 500 Futures Are Up Pre-Market; Tesla, Broadcom, SK Hynix, Micron, SNOW in Focus
TradingKey·- US pre-market stock index futures were mixed on September 3 as oil prices and Treasury yields declined, while ADP payrolls added 38,000 jobs in August and investors awaited the September 4 nonfarm payrolls report. - Tesla shares rose over 1% amid focus on the upcoming Cybercab autonomous vehicle launch, and Broadcom reported fiscal Q3 revenue of $29.59 billion with AI semiconductor revenue up 221% year-over-year, though its Q4 guidance triggered a stock decline. - Snowflake surged over 20% after reporting fiscal Q2 total revenue of $1.55 billion and raising its fiscal 2027 product revenue guidance to $6.07 billion, while memory stocks faced pressure from Micron strike votes and ChangXin Memory Technologies expansion.Dow drops below a key chart level, warning of more trouble ahead
MarketWatch·- The Dow Jones Industrial Average closed down 0.8% at 52,766.88, dropping below its 50-day moving average for the first time in nearly five months. - This technical breach signals potential further market weakness, driven by rising Middle East tensions, persistent inflation, and surging Treasury yields. - Higher interest rates and a 10-year Treasury note yield reaching 4.8% are creating problematic borrowing costs for consumers and companies.U.S. Stocks Moving Mostly Higher Following Recent Weakness
rttnews·- U.S. stocks moved higher during Wednesday's trading session following recent weakness across the market. - The Nasdaq rose 142.46 points to 26,242.24 and the S&P 500 gained 48.23 points to 7,679.70, both increasing 0.6 percent. - The Dow also traded up 316.10 points, or 0.6 percent, reaching 53,082.98.Labor market rebounds, but all eyes are on inflation for Fed
American Banker·- U.S. employers added 162,000 workers in August, with the unemployment rate remaining unchanged at 4.1 %. - The surprisingly strong labor market report underscores overall economic strength and keeps the Federal Reserve focused on inflation. - The upcoming consumer price index report on September 11 will determine the Federal Open Market Committee's next policy move regarding interest rates.Stocks Spring at Thursday Open
Baystreet·- Canada's main stock index and Wall Street equities rose on Thursday following U.S. Fed Governor Christopher Waller's signal of patience on interest rates. - The TSX gained 279.82 points to open at 36,371.43, driven by mining and information technology sectors, while the Dow Jones Industrials popped 342.09 points to 53,404.34. - Investors pulled back September rate hike bets, causing benchmark 10-year Treasury yields to decline to around 4.76%.TSX Ekes into Green by Noon
Baystreet·- Canadian equities edged higher by noon on Friday following stronger-than-expected U.S. jobs data that increased bets on a Federal Reserve rate hike. - The TSX rose 21.03 points to 36,654.15, while Wall Street indices such as the Dow Jones Industrial Average fell. - Domestic data showed Canada lost 42,000 jobs in August with unemployment steady at 6.4%, while the IVEY PMI rose to 64.3.