Oddbean

Futures start week on upbeat note as soft landing optimism lingers ========== Futures tied to Wall Street's main indexes gained on September 9, 2024, rebounding from losses as investors remained optimistic about soft landing prospects for the U.S. economy ahead of a crucial inflation report. Tesla (TSLA.O) led gains, up 1.7%. Chip stocks AMD (AMD.O) and Marvell Technology (MRVL.O) rose 1% and 1.7%, respectively. The S&P 500 is still 13.4% higher for the year despite recent volatility. Seema Shah, chief global strategist at Principal Asset Management, noted that rate cuts could avoid a downturn but warned of recession fears if conditions worsen. Consumer prices data is due on September 11, expected to show 2.6% yearly inflation. Money markets see a 75% chance of a 25-basis-point rate reduction by the Fed next week. Boeing (BA.N) advanced 4.7% after a tentative agreement with a union, while Dell Technologies (DELL.N) and Palantir (PLTR.N) rose 5.9% and 8%, respectively, ahead of their inclusion in the S&P 500 on September 23. #Futures #WallStreet #Economy #Inflation #Stocks #Boeing #Tesla #S&p500 #RateCuts #JobData https://www.kitco.com/news/off-the-wire/2024-09-09/futures-start-week-upbeat-note-soft-landing-optimism-lingers