SPY - S&P 500 Nasdaq Set To Rebound On Hopes Of Jobs Data Swaying Fed: Why This Analyst Sees Bull Run Rolling Into Seasonally Weak September | Benzinga
U.S. stocks may open higher on Friday after a brief pause following four consecutive winning sessions. Traders are optimistic about a potentially favorable non-farm payrolls report that could indicate an easing labor market tightness. Additionally, the market will be influenced by manufacturing activity data and pricing data from the sector.
Tech earnings, released after Thursday’s close, elicited mixed reactions. Energy stocks may see some strength as oil prices continue to rise.
Cues From Thursday’s Trading:
On Thursday, major indices had a mixed performance. They started positively but later fluctuated before closing mostly lower. Early optimism stemmed from data showing that the annual rate of the core consumer price expenditure index, the Federal Reserve’s preferred inflation gauge, met expectations.
The tech-heavy Nasdaq Composite Index finished slightly higher, maintaining a one-month high, while the S&P 500 Index, Dow Industrials, and Russell 2000 Index moved downward.
Utilities, real estate, and healthcare stocks weighed on sector indices.
US Index Performance On Thursday
Index Performance (+/-) Value
Nasdaq Composite +0.11% 14,034.97
S&P 500 Index -0.16% 4,507.66
Dow Industrials -0.48% 34,721.91
Russell 2000 -0.19% 1,899.68
Analyst Color:
An analyst is confident going into September, given the late-month bounce the stock market saw.
Fund manager Louis Navellier said, "Overall, the strong recovery in late August is an endorsement that ...