U.S. stock futures advanced on Monday after Friday’s mixed close. Futures of major benchmark indices were higher.
Even as the full resumption of post-shutdown economic data remains uncertain, investors will receive the long-awaited September jobs report on Thursday, according to the BLS website.
This delayed report offers a crucial snapshot of the labor market, especially as recent caution from Fed officials has cast doubt on a rate cut next month.
Additionally, investors await Nvidia Corp.‘s (NASDAQ:NVDA) earnings results, scheduled for this week on Wednesday.
Meanwhile, the 10-year Treasury bond yielded 4.12% and the two-year bond was at 3.60%. The CME Group’s FedWatch tool‘s projections show markets pricing a 43.6% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
| Futures | Change (+/-) |
| Dow Jones | 0.10% |
| S&P 500 | 0.45% |
| Nasdaq 100 | 0.73% |
| Russell 2000 | 0.24% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were higher in premarket on Monday. The SPY was up 0.31% at $674.02, while the QQQ advanced 0.57% to $612.49, according to Benzinga Pro data.
Stocks In Focus
Alphabet
- Benzinga’s Edge Stock Rankings indicate that GOOGL maintains a stronger price trend over the short, medium, and long terms, with a moderate value ranking. Additional performance details are available here.
Dell Technologies
- Dell Technologies Inc. (NYSE:DELL) tumbled 4.04% after Morgan Stanley downgraded it to ‘Underweight’ from ‘Overweight’ on Monday, cutting its price target from $144.00 to $110.00, according to an Investing.com report.
- DELL maintained a stronger price trend over the long term but a weak trend in the short and medium terms, with a strong growth ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Boeing
- BA maintains a weaker price trend over the short and medium terms, but a strong trend in the long term, with a moderate quality ranking. Additional information is available here.
Palantir Technologies
- It maintained a strong price trend over the medium and long terms, with a weak trend in the short term. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Helmerich And Payne
- Helmerich and Payne Inc. (NYSE:HP) fell 0.47% as analysts expected it to report earnings of 25 cents per share on revenue of $973.68 million, after the market close.
- HP maintained a stronger price trend over the short, medium, and long terms, with a strong value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Cues From Last Session
Sectors on the S&P 500 were mostly negative on Friday, with materials, financials, and communication services recording the biggest losses.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 0.13% | 22,900.59 |
| S&P 500 | -0.05% | 6,734.11 |
| Dow Jones | -0.65% | 47,147.48 |
| Russell 2000 | 0.22% | 2,388.23 |
Insights From Analysts
Ryan Detrick presented a data-driven, optimistic market view that prioritizes strong fundamentals over temporary political volatility.
He highlights robust S&P 500 earnings forecasts for the third quarter, noting projected year-over-year growth of 13.1%. D
Detrick specifically points to global strength, as companies earning over 50% of their revenue outside the U.S. are expected to see even higher 13.5% growth.
He uses this to counter negative sentiment, advising, “Next time someone tells you how bad the global economy is, show them this.”
Detrick also downplays the impact of political turmoil, such as government shutdowns. He notes that markets gaining during a shutdown is “quite normal.”
Citing historical data, he emphasizes that the real trend is positive: “once things open back up, stocks do pretty well.” His analysis shows the S&P 500 is higher 19 out of 22 times one year after a shutdown, with an average gain of 12.7%.
See Also: How to Trade Futures
Upcoming Economic Data
Here’s what investors will be keeping an eye on this week;
- On Monday, November’s Empire State manufacturing survey data will be released by 8:30 a.m. ET.
- Federal Reserve Vice Chair Philip Jefferson will speak at 9:00 a.m., Minneapolis Fed President Neel Kashkari will speak at 1:00 p.m., and Federal Reserve Governor Christopher Waller will speak at 3:35 p.m. ET.
- On Tuesday, October’s import price index, scheduled at 8:30 a.m., and industrial production and capacity utilization data, scheduled for 9:15 a.m., can be impacted despite the government reopening, according to the BLS website.
- November’s home builder confidence index and August’s business inventories data will be out by 10:00 a.m., and Federal Reserve Governor Michael Barr will speak at 10:30 a.m. ET.
- On Wednesday, November’s Philadelphia Fed manufacturing survey data, October’s housing starts and building permits data, and August’s U.S. trade deficit data will be released by 8:30 a.m. The minutes of the Fed’s October FOMC meeting will be out by 2:00 p.m. ET.
- On Thursday, September’s U.S. employment report, unemployment rate, hourly wages, and initial jobless claims for the latest week will be out by 8:30 a.m. ET.
- October’s existing home sales and U.S. leading economic indicators are likely to be released by 10:00 a.m. Federal Reserve Governor Lisa Cook will speak at 11:00 a.m., Fed President Austan Goolsbee at 1:40 p.m., and Philadelphia Fed President Anna Paulson will speak at 6:45 p.m. ET.
- On Friday, Federal Reserve Governor Michael Barr will speak at 8:3 a.m., Vice Chair Philip Jefferson at 8:45 a.m., and Dallas Fed President Lorie Logan at 9:00 a.m. ET.
- November’s S&P flash U.S. services and manufacturing PMI will be out by 9:45 a.m., and November’s final consumer sentiment data will be released by 10:00 a.m. ET.
Commodities, Gold, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 0.07% to hover around $59.91 per barrel.
Gold Spot US Dollar rose 0.20% to hover around $4,087.71 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.08% higher at the 99.3800 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 0.75% lower at $99.3800 per coin.
Asian markets closed mixed on Monday as China’s CSI 300, Hong Kong’s Hang Seng, and Japan’s Nikkei 225 indices fell, whereas Australia’s ASX 200, India’s NIFTY 50, and South Korea’s Kospi indices rose. European markets were also lower in early trade.
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