{"id":48242,"date":"2024-10-07T13:14:21","date_gmt":"2024-10-07T13:14:21","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/"},"modified":"2024-10-07T13:14:21","modified_gmt":"2024-10-07T13:14:21","slug":"stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/","title":{"rendered":"Stock Market Today: Indexes Retreat as Investors Reassess Rate Cut Expectations"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Major_Indexes_Poised_for_Lower_Open_on_October_7_2024\" >Major Indexes Poised for Lower Open on October 7, 2024<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Tech_Giants_Face_Pressure\" >Tech Giants Face Pressure<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Investors_Reassess_Rate_Cut_Expectations\" >Investors Reassess Rate Cut Expectations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Treasury_Yields_and_Oil_Prices_on_the_Rise\" >Treasury Yields and Oil Prices on the Rise<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Upcoming_Market_Events_and_Economic_Data\" >Upcoming Market Events and Economic Data<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Earnings_Season_Kicks_Off\" >Earnings Season Kicks Off<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Notable_Stock_Movements\" >Notable Stock Movements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/stock-market-today-indexes-retreat-as-investors-reassess-rate-cut-expectations\/48242\/#Global_Market_Performance\" >Global Market Performance<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Poised_for_Lower_Open_on_October_7_2024\"><\/span>Major Indexes Poised for Lower Open on October 7, 2024<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the trading week kicks off on Monday, October 7, 2024, the U.S. stock market is showing signs of retreat following last week&#8217;s rally. Futures tied to major indexes are pointing to a lower open, with technology stocks leading the decline in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading.<\/p>\n<p><b><a href=\"https:\/\/stockmarketwatch.com\/markets\/sp500\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> futures are down 0.4%, <a href=\"https:\/\/stockmarketwatch.com\/markets\/dowjones\/today.aspx\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average futures have slipped 0.4%, and Nasdaq 100 futures are off by 0.5%<\/b>. This pullback comes after a strong performance last week, which saw the Dow reach an all-time closing high on Friday.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Giants_Face_Pressure\"><\/span>Tech Giants Face Pressure<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mega-cap technology stocks are experiencing downward pressure in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">premarket<\/a> trading. <b>Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) and Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>) are both down more than 1%<\/b>, with Apple facing an additional challenge after Jefferies downgraded the stock to hold from buy. Other tech heavyweights, including Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>), Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>), and Alphabet (GOOGL), are also showing weakness.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Investors_Reassess_Rate_Cut_Expectations\"><\/span>Investors Reassess Rate Cut Expectations<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market&#8217;s retreat can be attributed to investors reevaluating their expectations for interest rate cuts following Friday&#8217;s better-than-expected jobs report. The robust employment data has led to a shift in sentiment regarding the Federal Reserve&#8217;s monetary policy outlook.<\/p>\n<p><b>Traders have now scaled back their bets on aggressive rate cuts<\/b>. The CME FedWatch Tool indicates an 88% chance of a 0.25% rate cut in November, down from previous expectations of a more substantial 0.50% cut. This adjustment in rate cut expectations is putting pressure on stocks that have rallied on the prospect of easier monetary policy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Treasury_Yields_and_Oil_Prices_on_the_Rise\"><\/span>Treasury Yields and Oil Prices on the Rise<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The yield on the 10-year Treasury note has climbed above 4% for the first time in two months, reflecting the market&#8217;s reassessment of the interest rate environment. Meanwhile, <b>crude oil futures are up about 1.5%<\/b>, extending last week&#8217;s rally amid growing concerns about potential disruptions to oil production due to conflicts in the Middle East.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Upcoming_Market_Events_and_Economic_Data\"><\/span>Upcoming Market Events and Economic Data<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are now turning their attention to key economic releases scheduled for this week:<\/p>\n<p>1. Federal Reserve meeting minutes (Wednesday)<br \/>2. Consumer Price Index (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=CPI\">CPI<\/a>) report (Thursday)<\/p>\n<p>These reports will be closely watched for insights into the Fed&#8217;s monetary policy stance and inflationary pressures in the economy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Earnings_Season_Kicks_Off\"><\/span>Earnings Season Kicks Off<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The third-quarter earnings season is set to begin, with several major companies reporting this week:<\/p>\n<p>&#8211; PepsiCo (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PEP\">PEP<\/a>) on Thursday<br \/>&#8211; JPMorgan Chase (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=JPM\">JPM<\/a>), Wells Fargo (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=WFC\">WFC<\/a>), and BlackRock (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=BLK\">BLK<\/a>) on Friday<\/p>\n<p>Goldman Sachs has raised its target for the S&#038;P 500, citing expectations of higher margin growth for corporate companies.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>&#8211; <b>Pfizer (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=PFE\">PFE<\/a>) shares rose 2.6% in premarket trading<\/b> following reports that activist investor Starboard Value has taken a $1 billion stake in the pharmaceutical giant.<br \/>&#8211; Nintendo&#8217;s stock climbed almost 5% after reports that Saudi Arabia&#8217;s sovereign wealth fund is considering increasing its stake in the company.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Global_Market_Performance\"><\/span>Global Market Performance<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Asian markets showed strength on Monday, with Japan&#8217;s Nikkei 225 rising 1.8% and Hong Kong&#8217;s Hang Seng index climbing 1.4%. The positive performance in these markets contrasts with the cautious sentiment in U.S. futures.<\/p>\n<p>As investors navigate this complex market environment, they will be closely monitoring economic data, corporate earnings, and geopolitical developments for cues on market direction in the coming days and weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Poised for Lower Open on October 7, 2024 As the trading week kicks off on Monday, October 7, 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