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ctm-LIVE: Market Coverage: Monday October 4 Yahoo Finance



#bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed
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Get the latest up-to-the-minute continuous stock market coverage and big interviews in the world of finance every Monday–Friday from 9 am to 5pm (ET).

Stock futures pointed to a lower open on Monday, giving back some of Friday’s gains as traders awaited new economic and earnings data this week to confirm or assuage concerns over supply chain challenges, inflation and the pace of the labor market’s recovery.

Contracts on the S&P 500 fell by 0.4% with about two hours to go until the opening bell. Last Friday, the first day of October and the fourth quarter, the blue-chip index logged its best start to the month since 2007 with a jump of 1.2%. Still, the index posted a weekly loss of 2.2%, or its worst since February, after an equity rout earlier in the week.

Stocks are struggling to regain footing after a September selloff, given that many of the concerns that sparked last month’s drop have persisted. In Congress, lawmakers have yet to come to an agreement on a solution to raise the debt limit and avert a potential government default, or an outcome that could come as soon mid-month and engender “a financial crisis and economic recession,” Treasury Secretary Janet Yellen warned last week.

Jitters over ongoing supply chain disruptions and fast-rising inflation have also been in focus, especially after Friday’s U.S. personal consumption expenditures (PCE) report reflected the fastest annual rise in inflation since 1991. And later this week, traders will receive the Labor Department’s monthly jobs report for September, which is expected to show an at least modest acceleration in job growth after a much weaker-than-expected August report. But after a strong string of economic data earlier this year, many pundits are bracing for decelerating growth and potential data disappointments into year-end.

“We are going to have to sort of tiptoe our way through some of the negative numbers that we will likely see, but I think the market will look across this valley,” Sam Stovall, U.S. equity strategist for CFRA Research, told Yahoo Finance Live on Friday.

For more on this article which is updated during the day please visit:
https://finance.yahoo.com/news/stock-market-news-live-updates-october-4-2021-113322666.html

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