Investors await September’s job report, which is scheduled to be released today after the end of the record-long government shutdown last week.
According to the FOMC minutes, released Wednesday, Federal Reserve officials appear sharply divided on the future path of interest rates. There was a split among participants following their decision to lower the federal funds target range to 3.75%–4.00%.
Meanwhile, the 10-year Treasury bond yielded 4.13% and the two-year bond was at 3.60%. The CME Group's FedWatch tool‘s projections show markets pricing a 33.8% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
0.44%
S&P 500
1.08%
Nasdaq 100
1.47%
Russell 2000
0.61%
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 higher in premarket on Thursday. The SPY was up 1.01% at $669.35, while the QQQ advanced 1.37% to $608.07, according to Benzinga Pro data.
Stocks In Focus
Nvidia
Nvidia Corp. (NASDAQ:NVDA) rose 5.55% in premarket on Thursday after reporting better-than-expected third-quarter financial results and issuing a strong revenue forecast for the current quarter.
Benzinga’s Edge Stock Rankings indicate that NVDA maintains a stronger price trend over the long and medium terms but a weak trend in the short term, with a solid quality ranking. Additional performance details are available here.
Palo Alto Networks
Palo Alto Networks Inc. (NASDAQ:PANW) dropped 4.15% despite beating estimates as its full-year guidance was revised to be just in line with analyst expectations. For the second quarter, ...
