US stock market futures today: US stocks were little changed before the opening bell on September 25, Thursday as investors awaited fresh jobless claims data to gauge the Federal Reserve’s next move on interest rates, as per a report.
US Stock Futures Show Cautious Trading Before the Bell
Futures on the Dow Jones Industrial Average (YM=F) hovered just below flat, while S&P 500 contracts (ES=F) slipped 0.2%. Nasdaq 100 futures (NQ=F) dipped 0.3%, extending pressure after the major indexes closed lower for a second straight day, as per a Yahoo Finance report.
AI Valuations and Fed Policy Spark Investor Caution
Markets are cooling after a record-breaking rally, with concerns that enthusiasm around artificial intelligence may be inflating valuations, as per the report. At the same time, optimism over rate cuts has faded as divisions among Fed policymakers temper expectations for more easing this year.
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Jobless Claims in Focus for Wall Street
The focus now turns to Thursday’s economic data, led by weekly jobless claims, a key signal on the health of the labor market that Fed officials have flagged as a concern.
Salvatore Ruscitti, US equity strategist at MRB Partners, said that, “On the jobless claims data, clearly it is a focus of the equity markets, especially with the Fed leaning more towards emphasizing the maximum employment part of its mandate,” as quoted by CNBC. Ruscitti added, “I think you would have to see a meaningful spike higher in weekly jobless claims to elicit a meaningful negative reaction in the equity market,” as quoted in the report.Investors will also look at second-quarter GDP, personal consumption, and existing home sales ahead of Friday’s release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures index. August’s PCE reading is expected to show easing price pressures.On the corporate front, Costco (COST) will report quarterly earnings after the bell, with analysts looking for higher sales as consumers hunt for bargains in an uncertain economy, as per the Yahoo Finance report.
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US Stocks Moving in Premarket Trading
Stocks on the move on Thursday
- Intel (INTC) shares climbed more than 3% in premarket trading after Bloomberg reported the chipmaker is in talks with Apple (AAPL) for a potential investment, as per the report. Intel closed at $31.22 on Wednesday, up 6.4%, and was last at $31.70 in early trade, as per the Yahoo Finance report.
- Hertz (HTZ) rose 4% after the rental car company said it would raise $250 million through an exchangeable senior notes offering, as per Yahoo Finance.
- Qualcomm (QCOM) slipped 1% following the launch of new chips for PCs and phones on Wednesday.
- CarMax (KMX) dropped 12% in premarket after the used-car dealership chain’s quarterly results missed Wall Street estimates.
Analyst Call of the Day: Oracle Downgrade
Oracle (ORCL), one of the year’s hottest stocks, drew a bold downgrade from Redburn analyst Alex Haissl, who initiated a Sell rating. Haissl set a $175 price target, implying 42% downside, and argued in a 59-page report that it may be time for investors to take profits.
FAQs
Why are US stocks flat today?
Because investors are waiting for jobless claims data that could influence Fed rate policy.
Why did Intel stock rise premarket?
Reports say it is in talks with Apple for a potential investment.