Hey there! HTC News has something for you. If you’re watching the stock market, you’ll know that US stock futures mainly remained flat in the evening deals on Monday. Investors are waiting for potential interest rate cuts in Europe and Canada this week. Plus, there’s a lot of buzz around the critical U.S. labor market data coming soon.
Tech Glitches Shake Monday US stock futures
Monday’s trading had a bit of a rollercoaster ride, thanks to some technical glitches on the New York Stock Exchange. These issues caused a stir, halting trading in several significant US stock futures. Thankfully, the chaos was short-lived, and things returned to normal towards the end of the session.
Numbers at a Glance
Here’s a quick rundown: S&P 500 Futures nudged up by 0.1% to 5,300.25 points. Nasdaq 100 Futures also increased by 0.1% to 18,662.50 points, and Dow Jones Futures stayed steady at 38,668.0 points.
Rate Cut Speculation Heats Up
You might be interested to know that there’s growing speculation about the Federal Reserve cutting interest rates in September. Recent economic data suggests the U.S. economy is slowing down, fueling these expectations. The CME Fedwatch tool shows a 52.5% chance of a 25-basis-point rate cut in September, up from 47% the day before.
All Eyes on Labor Market Data
This week, everyone’s focused on the nonfarm payroll data. It’s a big deal because the labor market plays a crucial role in the Fed’s decisions on rate cuts. Watch for the JOLTS job opening data coming out on Tuesday.
Global Rate Cuts on the Horizon
But wait, there’s more! Before next week’s Fed meeting, the European Central Bank and the Bank of Canada are anticipated to cut interest rates this week.
Nvidia Steals the Spotlight
Monday wasn’t all about rate cuts and glitches. The S&P 500 rose slightly to 5,283.40 points, and the NASDAQ Composite climbed 0.6% to 16,828.63 points. However, the Dow Jones Industrial Average dipped 0.3% to 38,671.03 points.
Nvidia was the star of the show. The tech giant’s stock surged nearly 5% after it launched a new line of artificial intelligence processors. On the other hand, AMD’s stock fell 2% despite unveiling new AI chips meant to compete with Nvidia.
GameStop Soars on Influencer’s Big Bet
And here’s something that might catch your interest: GameStop saw a massive 21% jump, closing at $28.0, after surging as much as 78% earlier in the day. The spike was driven by Reddit posts from influencer Keith Gill, aka Roaring Kitty, who revealed a whopping $115.7 million position in the company. This news also lifted other meme stocks like AMC and Koss, though their gains were more modest.
There you have it—a quick, detailed rundown of what’s happening in the market. Stay tuned for more US stock futures updates!
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