Futures Dip as Markets Eye Labor Data and Rate Adjustments

October 01, 2024 04:14 AM PDT | By Team Kalkine Media

Google News:

Futures Dip as Markets Eye Labor Data and Rate Adjustments — Image source: Shutterstock

Recent News

Trump Tariff Decision Impacts S&P 500 as Shares Extend Losses

Medtronic’s Steady Growth Within NYSE Composite Reflects Strong Operat...

NVIDIA Rallies on Sector Strength and Momentum Within Nasdaq Composite...

Is (NASDAQ:VC) Undervalued as Nasdaq Composite Reflects Broader Market...

Headlines

U.S. stock futures dipped as investors awaited labor market data following recent comments on interest rates.

Modest rate reductions are anticipated by the year's end, driven by consumer spending and income data.

Labor market data and manufacturing activity reports are central to shaping market expectations on future monetary policy.

U.S. stock index futures dipped slightly on Tuesday as investors awaited key labor market data following Federal Reserve Chair Jerome Powell's recent comments regarding interest rate adjustments. Powell emphasized that the central bank is considering modest reductions in borrowing costs by the year's end, driven by solid consumer spending and gross domestic income trends.

Traders are closely monitoring the upcoming interest rate decision, with expectations leaning towards a minor reduction in November. As inflation nears the Federal Reserve's 2% target, attention has shifted to labor market data, which could influence future monetary policy moves.

August's job openings and labor turnover survey (JOLTS) and the final estimate for September's manufacturing activity will be pivotal in shaping market sentiment today. Analysts suggest that any significant surprises in employment data could impact the central bank's future rate cut decisions.

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.