Market Fluctuations: Soft Jobs Data Impact Stock Futures

The stock market is trading lower midday, with declines in the S&P 500, Nasdaq Composite, Dow Jones, and Russell 2000. The semiconductor sector, including Nvidia, Taiwan Semiconductor, Broadcom, ASML, and AMD, has seen significant drops. The Magnificent 7 stocks are also lower, except for Tesla, which added 0.6%. Boeing stock lost 8% after Wells Fargo analyst Matthew Akers downgraded the stock and said the company is likely to do a $30 billion equity raise by 2026. Unity Software surged 10% on..

Global equities steady after declines; uncertainty over US economy, Fed rate cuts persist. Traders await US jobs data, including job openings and Beige Book, to assess economic outlook as Fed prepares to ease policy. Maybank CIO says US soft landing intact but next 2-3 months tricky; iron ore slumps to $90/ton. Treasury yields little changed, dollar holds steady. China's steel industry group advises mills to be cautious in boosting output too quickly. Swap traders bet on pace of rate cuts, inc..

OPEC may delay output hikes; WTI crude below $70 amid demand concerns.

US stock futures fall as weaker labor data, including private payrolls miss, slumping job openings, and unemployment claims, stoke rate cut hopes and recession fears. Nasdaq, Dow futures decline. Crucial August jobs report looms, with traders seeing 50-50 chance of 0.5% rate cut. AI growth in focus after C3.ai shares slump 20% on weak subscription revenue, HPE stock slips on profitability disappointment.