Wall Street Poised For Strong Start As Inflation Data Looms: Strategist Says Brace For Volatile Fall As Soft Landing Not Guaranteed Outcome
After Thursday’s mixed close, stocks appear to be headed for a positive start, although Monday’s Labor Day holiday will likely keep volume anemic. The index futures were solidly higher early Friday and sustenance of the sentiment hinges largely on an inflation readout due ahead of the market open. The futures market has priced in a 100% probability of a rate cut and the only uncertainty there is the magnitude of the reduction. If Friday’s inflation does nothing to force a reassessment, the market could launch into a strong rally. A rebound by tech stocks could also provide a thrust to the market. Futures Performance (+/-) Nasdaq 100 +0.68% S&P 500 +0.39% Dow +0.17% R2K +0.34% In premarket trading on Friday, the SPDR S&P 500 ETF Trust (NYSE: SPY ) rose 0.46% to $560.91, and the Invesco QQQ ETF (NASDAQ: QQQ ) jumped 0.72% to $474.03, according to Benzinga Pro data . Cues From Last Session Wall Street showed resilience on Thursday as the market weathered the negative reaction to artificial intelligence stalwart Nvidia Corp.’s (NASDAQ: NVDA ) earnings.
https://www.benzinga.com/news/earnings/24/08/40648231/wall-street-poised-for-strong-start-as-inflation-data-looms-strategist-says-brace-for-volatile-fall