Outlook 09/04: Stock futures fell Wednesday after the major averages kick-started September lower, with the SP500 clocking its worst day since early August. Nvidia shares were down 9.5% yesterday, equal to a loss of $278.9 billion of market value. That's the biggest one-day decline in market cap in stock-market history. Traders are bracing for more volatility in September, historically a weak month for equities. Many investors anticipate a pullback of 5% or more in the coming weeks, although some money managers view any decline as a buying opportunity. Traders will look to the latest releases on job openings and labor turnover (JOLTS) survey data.
ESU24 (SEP2024): YVAH 5637 YPOC 5574 YVAL 5551 GAP 5544.50
/ES Plan: Last session market closed bearish (PBT 5480), but overnight looks more balanced, moving below previous value, so these're the opening and initial balance options for today:
