TSLA - S&P 500 Nasdaq Set To Bounce Back On Tesla Apple Strength: Why This Analyst Expects Year To End Without 'Too Much Damage' | Benzinga
Index futures suggest a stock market rebound on Monday after a lackluster holiday-shortened week. Bargain hunting and strength in Tesla Inc (NASDAQ:TSLA) and Apple Inc (NASDAQ:AAPL) may drive buying interest. However, a possible UAW strike and caution ahead of August inflation data could temper sentiment. Oracle Corp. (NYSE:ORCL) earnings, treasury yields, and oil prices will be in focus.
Cues From Last Week
Last week, stocks reversed course, ending with weekly losses due to inflation concerns triggered by oil price spikes. Economic data, including service sector survey prices, jobless claims, and Q2 productivity, worsened inflation worries. China’s iPhone ban expansion and Huawei’s new phone hit tech stocks, erasing $190 billion from Apple’s valuation. Negative sentiment spread across the tech sector.
US Index Performance In Week Ended Sept. 8
Index Performance (+/-) Value
Nasdaq Composite -1.93% 13,761.53
S&P 500 Index -1.29% 4,457.49
Dow Industrials -0.75% 34,576.59
Russell 2,000 Index -3.61% 1,851.54
Analyst Color:
The stock market could get past the fourth quarter without too much further damage, said fund manager Louis Navellier. “With weakness continuing in China, and Europe appearing headed for a ...