Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2024 in New York City.
Michael M. Santiago | Getty Images
Stock futures slipped on Wednesday morning as Wall Street looks to extend its September gains.
S&P 500 futures were down 0.2%, Nasdaq 100 futures fell 0.3%, and futures tied to the Dow Jones Industrial Average dipped 0.2%.
The moves come after the S&P 500 and Dow closed at record highs after gaining 0.25% and 0.20%, respectively. The Nasdaq Composite gained 0.56% and is less than 4% from its record high.
All three averages are on track for a positive September, though fears of a slowing economy still linger after last week’s rate cut from the Federal Reserve.
Now that the central bank has begun to lower interest rates, the economy is becoming a bigger focus for investors.
“I’m a buyer of this rally until unemployment claims start rising, until earnings start declining, really until growth’s a problem. And I think we’re going to see a really volatile market between those growth and slowdown narratives until that time,” Lauren Goodwin, chief market strategist at New York Life Investments, said Tuesday on CNBC’s “Closing Bell.”
Upcoming economic data includes new home sales for August, due out on Wednesday morning, and weekly jobless claims on Thursday.
Investors will also be paying close attention to commentary from companies, especially as earnings season ramps up early next month.
“We’re just starting to head into … the Q3 earnings season, and I think that will be as important if not more to what happens to stocks going forward as what happens with the Fed and with interest rates,” Certuity chief investment officer Scott Welch told CNBC.
