S&P 500 Opens 39 Points Lower Ahead of Jobs Data as September Fed Call Hangs
Updated
Updated · 24/7 Wall St. · Aug 31
S&P 500 Opens 39 Points Lower Ahead of Jobs Data as September Fed Call Hangs
3 articles · Updated · 24/7 Wall St. · Aug 31
Summary
The S&P 500 fell 39 points at the open to 7,672 on Monday, extending two weeks of choppy, mostly lower trading as investors cut risk before this week’s U.S. jobs report.
That data now carries unusual weight because it could sway the Federal Reserve’s September decision: a strong report would support higher-for-longer rates, while a soft reading could steady equities.
The index’s inability to hold rallies for more than a day or two suggests traders are waiting for a clear catalyst rather than committing to a broader market direction.
Earlier Monday, stock futures had already weakened after U.S. strikes on Iran lifted oil prices and pushed rate-hike bets higher, adding another layer of pressure before the jobs release.