U.S. stock futures were swinging on Monday following Friday’s mixed close. Futures of major benchmark indices were mixed.
Ahead of the Federal Reserve’s key vote on interest rates this week, the Justice Department has made a fresh attempt to stay a lower court’s injunction blocking President Donald Trump‘s firing of Fed Governor Lisa Cook.
The investors will eye the key decision by the Federal Reserve to cut interest rates on Wednesday, in the Federal Open Market Committee meeting beginning on Tuesday.
The 10-year Treasury bond yielded 4.07% and the two-year bond was at 3.56%. The CME Group’s FedWatch tool’s projections show markets pricing a 100% likelihood of the Federal Reserve cutting the current interest rates for the Sept. 17 decision.
| Futures | Change (+/-) |
| Dow Jones | 0.20% |
| S&P 500 | 0.06% |
| Nasdaq 100 | -0.08% |
| Russell 2000 | 0.35% |
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 mixed in premarket on Monday. The SPY was up 0.093% at $658.02, while the QQQ declined 0.058% to $586.32, according to Benzinga Pro data.
Cues From Last Session
Industrials, health care, and materials stocks recorded the biggest losses on Friday, leading most sectors on the S&P 500 to a negative close. Consumer discretionary and utilities stocks, however, bucked the overall market trend by closing higher. This divergence led to U.S. stocks settling mixed.
Despite Friday’s divergence, all three major U.S. equity benchmarks gained last week, with the S&P 500 notching its best weekly performance since August and the Dow adding around 1%.
Adobe Inc. (NASDAQ:ADBE) posted better-than-expected third-quarter results and raised its fiscal 2025 outlook, while IBEX Ltd. (NASDAQ:IBEX) shares jumped more than 36% on Friday after its own upbeat financial report and guidance.
On the economic front, the University of Michigan consumer sentiment declined to 55.4 in September from 58 in August, and compared to market estimates of 58.
The Dow Jones index ended 274 points or 0.59% lower at 45,834.22, whereas the S&P 500 index fell 0.048% to 6,584.29. Nasdaq Composite advanced 0.44% to 22,141.10, and the small-cap gauge, Russell 2000, tumbled 1.01% to end at 2,397.06.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | 0.44% | 22,141.10 |
| S&P 500 | -0.048% | 6,584.29 |
| Dow Jones | -0.59% | 45,834.22 |
| Russell 2000 | -1.01% | 2,397.06 |
Insights From Analysts
Despite a backdrop of market gains, individual investors are growing increasingly pessimistic, with bearish sentiment reaching its highest level since early May.
According to the latest American Association of Individual Investors (AAII) Sentiment Survey, bearish views on the stock market’s six-month outlook surged to …