U.S. stocks appear on track to start the new week on a positive note, following their steep sell-off in the week ended Sept. 6 on macro concerns. Bargain hunting in beaten-down tech stocks could give the market a lift even as traders remain wary about the week’s twin inflation reports that precede the Sept. 17-18 Federal Reserve’s rate-setting meeting. Another key catalyst for the week will be Tuesday’s presidential debate, which many opine could break the deadlock seen between the two leading contenders in the race.

Apple, Inc.’s (NASDAQ:AAPL) hardware launch event, dubbed Glowtime, could provide an impetus to the tech space, although this annual affair has largely been neutral to negative to the stock. This time could be different, given the new iteration of Cupertino’s flagship product would come armed with Apple Intelligence, which is widely expected to kickstart a massive iPhone upgrade cycle.

Futures

Performance (+/-)

Nasdaq 100

+0.98%

S&P 500

+0.78%

Dow

+0.66%

R2K

+0.20%

In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) climbed 0.76% to $544.45 and the Invesco QQQ ETF (NASDAQ:QQQ) jumped 0.97% to $453.04, according to Benzinga Pro data.

Cues From Last Week: Weak economic data proved to be the undoing of the market in the truncated week ended Sept. 6, sending the major averages to their lowest levels since mid-August. Weak manufacturing data and a trio of disappointing labor market data, including the job openings for July, the ADP private sector payrolls and the Bureau of Labor Statistics’ non-farm payrolls report for August.

The S&P 500 recorded the worst weekly declines in about a year-and-a-half, according to Marketwatch. Weighing in on the weakness, LPL Chief Global Strategist Quincy Krosby said, “Markets have ...