U.S. Stocks | Morning Brief | October 7
At last night's close, the S&P 500 finished at 7,818 (+0.58%), a record high, while the Nasdaq rose 0.45%, nearing its previous high.
Pre-market futures: All three major index futures edged lower, with Nasdaq 100 futures down 0.24%.
Tonight's agenda: ISM Services PMI and Fed remarks.
Stocks to watch: Broadcom (AVGO) +3.67%, AMD +2.80%.
IBIT watch: Spot BTC ETF IBIT closed at $48.49, down slightly by 0.14%, but is still up 2.4% over the past five days.
Crypto outlook: If U.S. stocks trade in a narrow range tonight, BTC will likely consolidate and build a base in the 83,000–85,000 range.
Beginner's guide: The ISM Services PMI is a barometer of the U.S. service sector. A reading above 50 signals expansion; below 50 signals contraction. If tonight's figure comes in above expectations, it would suggest the economy remains resilient, potentially slowing the pace of Fed rate cuts and putting broad pressure on risk assets.
At last night's close, the S&P 500 finished at 7,818 (+0.58%), a record high, while the Nasdaq rose 0.45%, nearing its previous high.
Pre-market futures: All three major index futures edged lower, with Nasdaq 100 futures down 0.24%.
Tonight's agenda: ISM Services PMI and Fed remarks.
Stocks to watch: Broadcom (AVGO) +3.67%, AMD +2.80%.
IBIT watch: Spot BTC ETF IBIT closed at $48.49, down slightly by 0.14%, but is still up 2.4% over the past five days.
Crypto outlook: If U.S. stocks trade in a narrow range tonight, BTC will likely consolidate and build a base in the 83,000–85,000 range.
Beginner's guide: The ISM Services PMI is a barometer of the U.S. service sector. A reading above 50 signals expansion; below 50 signals contraction. If tonight's figure comes in above expectations, it would suggest the economy remains resilient, potentially slowing the pace of Fed rate cuts and putting broad pressure on risk assets.