{"id":59981,"date":"2023-09-12T08:34:30","date_gmt":"2023-09-12T12:34:30","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/u-s-stock-futures-dip-ahead-of-apple-event-with-inflation-data-looming\/"},"modified":"2023-09-12T08:34:33","modified_gmt":"2023-09-12T12:34:33","slug":"u-s-stock-futures-dip-ahead-of-apple-event-with-inflation-data-looming","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=59981","title":{"rendered":"U.S. stock futures dip ahead of Apple event, with inflation data looming"},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0002492290\" role=\"document\">\n<p>U.S. stock index futures were struggling to make headway early Tuesday as traders kept their powder dry ahead of Apple\u2019s marketing event later in the session and August inflation and retail sales data on Wednesday and Thursday. <\/p>\n<h2>How are stock-index futures trading<\/h2>\n<ul class=\"articleList\">\n<li>\n      S&amp;P 500 futures<br \/>\n        ES00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/209948968\/delayed\" class=\"negative\">-0.25%<\/bg-quote><br \/>\n       dipped 11 points, or 0.2%, to 4528<\/p>\n<\/li>\n<li>\n      Dow Jones Industrial Average futures<br \/>\n        YM00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210407078\/delayed\" class=\"negative\">-0.11%<\/bg-quote><br \/>\n       fell 56 points, or 0.2%, to 34956<\/p>\n<\/li>\n<li>\n      Nasdaq 100 futures<br \/>\n        NQ00,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/210219788\/delayed\" class=\"negative\">-0.33%<\/bg-quote><br \/>\n       eased 47 points, or 0.3%, to 15628<\/p>\n<\/li>\n<\/ul>\n<p>On Monday, the Dow Jones Industrial Average<br \/>\n        DJIA<br \/>\n       rose 87 points, or 0.25%, to 34664, the S&amp;P 500<br \/>\n        SPX<br \/>\n       increased 30 points, or 0.67%, to 4487, and the Nasdaq Composite<br \/>\n        COMP<br \/>\n       gained 156 points, or 1.14%, to 13918.<\/p>\n<div class=\"paywall\">\n<h2>What\u2019s driving markets<\/h2>\n<p>Traders are reluctant to make bold bullish bets ahead of a batch of potential market catalysts over the next few sessions.<\/p>\n<p>Apple shares<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.66%<\/bg-quote><br \/>\n       are a fraction firmer in premarket action as investors wait to see what the world\u2019s biggest listed company has in store at its  marketing event, due to start at 1 p.m. Eastern, in which it is expected to reveal new iPhones.<\/p>\n<p>\u201cWelcome to my annual day of being seduced into buying a new iPhone that I don\u2019t really need but desperately want.\u00a0Apple launch their new product suite today which actually is a potential macro mover,\u201d said Jim Reid, strategist at Deutsche Bank.<\/p>\n<p>Appetite for big technology stocks will also be put to the test Wednesday, when U.K.-based chip designer ARM launches its $50 billion listing in New York.<\/p>\n<p>\u201cARM which prepares to announce its IPO price tomorrow, has been oversubscribed by 10 times already and bankers will stop taking orders by today,\u201d said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. \u201cThe promising demand could also encourage an upward revision to the IPO price, and we could eventually see the kind of market debut that we like!\u201d\u00a0<\/p>\n<p>Another factor keeping bullish equity sentiment in check was the sight of benchmark U.S. 10-year borrowing costs<br \/>\n        BX:TMUBMUSD10Y<br \/>\n       holding just several points shy of their highest levels since 2008 as the market eyed economic updates.<\/p>\n<p>The U.S. consumer price index report for August will be published Wednesday, followed the next day by August producer prices and retail sales numbers. The data that may impact the Federal Reserve\u2019s thinking ahead of its policy deliberations next week and at its next meeting in November.<\/p>\n<p>\u201c[G]iven persistent pressures on service prices, the resurgence of oil prices, and the diminishing impact of favorable base effects, it appears unlikely that headline inflation will return to the desired 2% target any time soon. Hence, the path ahead remains challenging, and the Federal Reserve still faces a lengthy journey in its efforts to stabilize the economy,\u201d said Stephen Innes, managing partner at SPI Asset Management.<\/p>\n<p>\u201cU.S. equity markets should likely show their hand this week after recent churning\u2026It\u2019s thought that weaker than expected data could be instrumental for causing Treasury yields to fall, and vice-versa,\u201d said Mark Newton, head of techical strategy at Fundstrat.<\/p>\n<p>\u201cUntil there\u2019s a strong breakout in either direction, the trend over the past month has been neutral, not bullish nor bearish. However, breaks of either 4541 to the upside [for the S&amp;P 500], or 4430 to the downside, should be important,\u201d Newton added. <\/p>\n<h2>Companies in focus<\/h2>\n<ul class=\"articleList\">\n<li>\n       <strong>Apple <\/strong>stock<br \/>\n        AAPL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202934861\/composite\" class=\"positive\">+0.66%<\/bg-quote><br \/>\n      inched 0.1% higher in premarket trade ahead of the presentation of its new iPhone. The stock has dropped 5% over the last five sessions on China concerns. <\/p>\n<\/li>\n<li>\n       <strong>Oracle Corp. <\/strong><br \/>\n        ORCL,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202180826\/composite\" class=\"positive\">+0.31%<\/bg-quote><br \/>\n       dropped 9% after the cloud database company\u2019s issued revenue outlook fell below Wall Street expectations.   <\/p>\n<\/li>\n<\/ul><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/story\/u-s-stock-futures-dip-ahead-of-apple-event-with-inflation-data-looming-8e93ea33?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. stock index futures were struggling to make headway early Tuesday as traders kept their powder dry ahead of Apple\u2019s marketing event later in the session and August inflation and retail sales data on Wednesday and Thursday. How are stock-index futures trading S&amp;P 500 futures ES00, -0.25% dipped 11 points, or 0.2%, to 4528 Dow [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":59982,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-59981","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>U.S. stock futures dip ahead of Apple event, with inflation data looming | iFintechWorld<\/title>\n<meta name=\"description\" content=\"U.S. stock index futures were struggling to make headway early Tuesday as traders kept their powder dry ahead of Apple\u2019s marketing event later in the\" \/>\n<meta name=\"robots\" content=\"index, follow, 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