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HomeTop StoriesStock futures rise after S&P 500 notches fourth-straight winning session: Live updates

Stock futures rise after S&P 500 notches fourth-straight winning session: Live updates


Traders work on the New York Stock Exchange floor on Sept. 9, 2024.

Spencer Platt | Getty Images

U.S. stock futures rose Friday as traders sought to shake off a sluggish September.

S&P 500 futures climbed about 0.2% and Nasdaq 100 futures added 0.1%. Futures tied to the Dow Jones Industrial Average added 45 points, or 0.1%.

The S&P 500 and Nasdaq Composite are coming off their fourth straight winning session, adding to their strong week-to-date performances. The broad market index is up nearly 3.5% this week, while the Nasdaq has popped 5.3%. The Dow has advanced 1.9%.

Wall Street is now looking ahead toward the Federal Reserve’s policy meeting on Sept. 17-18, where the central bank is largely anticipated to lower interest rates by 25 basis points. Currently, the Fed’s target rate is sitting at 5.25% to 5.5%.

Economic data reflecting a moderation in inflation also seemed to support the case for a rate cut. The consumer price index in August came in at 2.5% on annualized basis, the lowest level since February 2021. Wholesale prices, meanwhile, rose 0.2% in August, coming in line with expectations.

“At the end of the day, the U.S. consumer and the economy continue to do well, [and] profits continue to print above expectations,” Dan Greenhaus, chief strategist at Solus Alternative Asset Management, said on CNBC’s “Closing Bell” on Thursday. “And so while we had a meaningful sell-off driven by some of those AI names, for sure, the rebound seems entirely justified because it doesn’t seem like these issues are broadening out,” he added.

On the economic front, traders will look toward August’s import prices data Friday morning. Preliminary consumer sentiment figures for September are also scheduled for release.



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