Elsewhere, Albemarle jumped 8.59% on renewed interest in lithium producers, while Centene, Tesla, Constellation Brands, and Expeditors International notched strong gains. On the downside, Dell, HPE, Coinbase, Generac, and CF Industries pulled back sharply.
What Will Drive the Market Next?
Traders are focused on Nvidia’s results Wednesday and the September nonfarm payrolls report Thursday. Both releases could influence expectations for a December Federal Reserve rate cut, especially as Fed officials suggest a cautious stance while inflation cools gradually. With futures now pricing only a 40% chance of a cut next month, incoming data will be crucial for market conviction.
Short-Term Market Forecast: Neutral to Slightly Bullish
Sector leadership in defensives and strength in major gainers such as Alphabet suggest buyers remain engaged, but conviction hinges on earnings and labor data. Expect tighter ranges until Nvidia and payrolls establish direction.
More Information in our Economic Calendar.