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▲ US stock market, bull market, bear market, bonds/AI generated image
Major index futures in the U.S. New York stock market showed a simultaneous upward trend. This was influenced by an influx of buying focused on technology stocks amidst U.S. President Donald Trump's strong warning message to Iran.
According to Benzinga on September 21 (local time), exchange-traded funds (ETFs) tracking the S&P 500 index and Nasdaq 100 index both showed strength. SPY (SPDR S&P 500 ETF Trust) rose 0.63% to $766.47 in pre-market trading. QQQ (Invesco QQQ Trust ETF) also traded at $728.23, up 0.94%.
Geopolitical tensions in the Middle East remain high. With continued restrictions on shipping in the Strait of Hormuz and Houthi rebels in Yemen striking key targets in Saudi Arabia, caution has spread throughout the energy market. Investors are closely watching President Trump's warnings against Iran and the evolving situation in the Middle East.
Wall Street's attention is turning to the earnings of major consumer goods companies to be announced this week. Costco Wholesale (COST), General Mills (GIS), and Darden Restaurants (DRI) are set to release their earnings. These are considered key indicators to gauge the health of household consumer spending following the U.S. Federal Reserve's (Fed) September interest rate hike.
Numerous events related to monetary policy and artificial intelligence (AI) are also pending. Five senior Fed officials are scheduled to give speeches this week, drawing attention to whether additional policy clues will emerge. According to CME FedWatch, the market has priced in a 53.1% probability of the Fed raising interest rates after its October meeting.
In addition, the disclosure of Meta Platforms' (META) AI strategy through its annual developer conference and the stock price movements of major technology companies such as Accenture (ACN), Marvell Technology (MRVL), and Apple (AAPL) are also attracting market attention.
Even amidst geopolitical instability in the Middle East, buying of technology-focused futures is driving the index rebound. Market attention is focused on whether statements from Fed officials and major corporate earnings can support the early-week upward momentum.
[Article Key Summary]
-S&P 500 and Nasdaq 100 futures rose simultaneously amidst Trump's warnings against Iran.
-Market attention turned to household spending health ahead of earnings announcements from major consumer goods companies like Costco.
-With speeches from five Fed officials and Meta (META) developer conference scheduled, the probability of an October interest rate hike recorded 53.1%.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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