Stock Market Today: S&P 500 Futures Rise, Nasdaq Slips Amid Mixed Trade—Nvidia, Hain Celestial, Check Cap In Focus

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 SPY and Invesco QQQ Trust ETF 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. ADBE posted better-than-expected third-quarter results and raised its fiscal 2025 outlook, while IBEX Ltd. 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 49.5% for the week. This marks a significant jump from the previous week’s 43.4% and represents a peak in negative sentiment not seen in four months.

This growing sense of unease comes even as major equity benchmarks have recently posted gains. The S&P 500, for instance, recorded its best weekly performance since August just last week. However, bullish sentiment has been on a steady decline since early July, with only 28% of investors now expressing a positive outlook, a figure well below the historical average.

Adam Turnquist, Chief Technical Strategist for LPL Financial, notes that this divergence between price action and sentiment is significant. “Despite a string of record highs over the last week, the latest AAII Sentiment Survey reveals a growing sense of pessimism among individual investors,” he says.

Turnquist suggests several factors could be fueling this “wall of worry,” including the well-documented weak seasonality of September, growing concerns over labor market conditions, the potential impact of tariffs on inflation, and uncertainty surrounding next week’s Federal Reserve monetary policy meeting.

While sentiment often follows price, this recent deviation suggests a different dynamic. “This bull market does not appear ready to die on euphoria anytime soon,” Turnquist concludes, highlighting that the prevailing caution among investors could paradoxically provide a floor for the market as it continues to climb.

As the Federal Reserve prepares for its first interest rate cut of 2025 this Wednesday, market analysis from Apollo Global Management, highlighted by The Kobeissi Letter, raises concerns of a potential repeat of 1970s-style inflation.

The Fed is expected to justify the rate cut by citing a weakening labor market. However, Apollo’s research points to a troubling parallel between current core CPI trends and the inflationary patterns of the 1970s and early 1980s.

A chart shared by both firms illustrates how inflation during that period experienced a “double peak.” After an initial surge and subsequent decline, inflation roared back to a much higher second peak.

The current data shows inflation in a similar trough to the one seen between the two 1970s peaks. This has fueled debate over whether the Fed’s pivot to rate cuts is premature.

Critics worry that easing monetary policy now could reignite price pressures, risking a second, more severe inflation mountain, and repeating the policy errors of a bygone era.

See Also: How to Trade Futures

Upcoming Economic Data

Here’s what investors will be keeping an eye on this week;

• On Monday, September’s Empire State manufacturing survey data will be released by 8:30 a.m. ET.
• On Tuesday, August’s retail sales and import price index data will be announced by 8:30 a.m. ET.
• August’s industrial production and capacity utilization numbers will be out by 9:15 a.m. ET.
• July’s business inventories and September’s home builder confidence index data will be released by 10:00 a.m. ET.
• On Wednesday, August’s housing starts and building permits data will be announced by 8:30 a.m. ET.
• FOMC will release its interest-rate decision at 2:00 p.m. and Federal Reserve Chair Jerome Powell will speak at 2:30 p.m. ET.
• On Thursday, initial jobless claims data for the week ending Sept. 13 and September’s Philadelphia Fed manufacturing survey will be announced by 8:30 a.m. ET.
• August’s U.S. leading economic indicators data will be out by 10:00 a.m. ET.
• On Friday, San Francisco Fed President Mary Daly will speak at 2:20 p.m. ET.

Stocks In Focus

• Hain Celestial Group Inc. HAIN jumped 20% in premarket on Monday ahead of its earnings report scheduled to be released before the opening bell. Analysts estimate earnings of 3 cents per share on revenue of $371.46 million.
• Dave & Buster’s Entertainment Inc. PLAY was up 2.07% as analysts expect it to report earnings of 92 cents per share on revenue of $562.78 million after the closing bell.
• Multi Ways Holdings Ltd. MWG declined 4.33% after reporting the pricing of its $1.49 million registered direct offering of 9 million shares and warrants.
• Check Cap Ltd. CHEK surged 160.21% as it announced that they have entered into a definitive merger agreement with MBody AI.
• Nvidia Corp. NVDA dropped 2.46% after the Chinese regulatory body ruled that it broke antitrust rules.
• Smurfit WestRock PLC SW advanced 5.11% as UBS initiated coverage on the stock with a ‘neutral’ rating.
• Warner Bros Discovery Inc. WBD fell 4.35% after ending over 17% higher on Friday following the news that Paramount Skydance Corp. PSKY was preparing an all-cash offer to acquire the company.

Commodities, Gold, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.21% to hover around $62.82 per barrel.

Gold Spot US Dollar rose 0.01% to hover around $3,643.75 per ounce. Its last record high stood at $3,674.75 per ounce. The U.S. Dollar Index spot was 0.01% lower at the 97.5490 level.

Asian markets closed higher on Monday, except Australia’s ASX 200 and India’s S&P BSE Sensex indices. China’s CSI 300, Japan’s Nikkei 225, Hong Kong’s Hang Seng, and South Korea’s Kospi indices rose. European markets were mixed in early trade.

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