Stock Futures Rise to Begin September Trading

Investors hope stocks can rally after a historically bad August performance

Deputy Editor
Sep 1, 2023 at 9:13 AM
facebook X logo linkedin

Stock futures are ticking higher to start September, a month that investors hope marks a turnaround from a historically dismal August as more jobs data enters the ring. The U.S. Bureau of Labor Statistics today reported 187,000 nonfarm payrolls were added in August, while the unemployment rate jumped to 3.8% -- its highest clip since February 2022 -- as both figures came in higher than anticipated. 

In response, Dow Jones Industrial Average (DJIA) futures are more than 160 points higher, while futures tied to the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are each up 0.5%. 

Continue reading for more on today's market, including: 

  • How Labor Day impacts Wall Street.
  • Bull signal flashing for sports betting stock.
  • Plus, Dell's earnings; Walgreens' c-suite shakeup; and analyst praises Vale's cheap valuation. 

Futures Chart September 132023

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw around 1.4 million call and 940,845 put contracts exchanged on Wednesday. The single-session equity put/call ratio fell to 0.67 and the 21-day moving average remained at 0.65.
  2. While retail earnings have taken center stage of late, major tech concern Dell Technologies Inc (NYSE:DELL) is all the rage this morning after the company beat second-quarter earnings and revenue estimates. Morgan Stanley named the stock a top pick in IT hardware, while several other brokerages hiked their price targets. DELL is surging ahead of the open, up 11%, and looking to add to a nearly 40% year-to-date lead.
  3. Longtime Walgreens Boots Alliance Inc (NASDAQ:WBA) CEO Roz Brewer is stepping down from her role after two years, and leaving her position on the company's board. The blue-chip pharma company has struggled over the last 12 months, down 27.8%, and WBA is trading flat before the opening bell following the news.
  4. Vale SA (NYSE:VALE) is too cheap to pass up, says JPMorgan. The Wall Street firm upgraded shares of the metals and mining stock to "overweight" from "neutral." VALE is 2.1% higher premarket, cutting into a 22.4% year-to-date deficit for an attractive entry point amid a likely valuation reset. 
  5. Nonfarm payrolls, the Institute for Supply Management's (ISM) manufacturing index, and construction spending data are scheduled for release today.


Asian Markets Close Week Higher; U.K. Housing Stages Steep Fall

Stocks in Asia finished the week on a high note, after China’s factory activity expanded for August, and the People Bank of China trimmed reserve requirements. The Shanghai Composite added 0.4% in response, while Hong Kong’s hang Seng was closed for holiday, ahead of Super Typhoon Saola. Japan’s Nikkei finished 0.3% higher, while the South Korean Kospi also tacked on 0.3%, the latter buoyed by a bull gap from Samsung Electronics.

Over in Europe, bourses are struggling for direction. While energy stocks thrive, auto stocks across the board are lower after Germany’s ifo institute indicated falling sentiment among automakers amid production issues. London’s FTSE 100 was up 0.6% at last check, after U.K. housing data saw its steepest fall since 2009, while the French CAC 40 and German DAX are 0.2% higher and 0.1% lower, respectively.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI