Dow Jones futures saw a modest increase on Sunday night, along with gains in S&P 500 and Nasdaq futures. Key stocks to watch include Apple (AAPL), Oracle (ORCL), Palantir Technologies (PLTR), Dell Technologies (DELL), and Tesla (TSLA), all of which are expected to make headlines on Monday.
Last week, the stock market experienced significant declines, with the S&P 500 and Dow Jones enduring their worst losses since March 2023. The Nasdaq Composite had its largest sell-off since January 2022, driven largely by Nvidia (NVDA). Tesla, which showed strength earlier in the week, lost ground by Friday.
Dow futures rose 0.2%, S&P 500 futures gained 0.3%, and Nasdaq 100 futures increased 0.4%. The 10-year Treasury yield climbed to 3.74%, while crude oil futures were up over 1%. Chinese consumer prices rose 0.6% in August, slightly below expectations, and producer prices fell 1.8%, exceeding forecasts.
AI Stocks in Focus
Apple is set to unveil its iPhone 16, its first AI-enabled device, featuring a new chip from Arm Holdings (ARM). Oracle will report earnings after Monday’s close, with expectations for insights into AI developments. Palantir and Dell will also be in the spotlight as both companies are set to join the S&P 500 index on September 23. Palantir’s stock surged to near three-year highs on Friday.
Elon Musk has refuted reports that his xAI startup is negotiating revenue sharing with Tesla. Taiwan Semiconductor (TSM) will release August sales figures on Tuesday, with the company’s stock having experienced a decline last week despite strong growth prospects due to AI.
Inflation Reports and Market Trends
This week’s key reports include the Consumer Price Index (CPI) on Wednesday and the Producer Price Index (PPI) on Thursday. These reports will influence the Federal Reserve’s decisions, with markets currently anticipating a 25-basis-point rate cut. The stock market rally has faced setbacks, with significant declines across major indices last week. The Nasdaq Composite fell 5.8%, dipping below its 50-day and approaching its 200-day line, while the S&P 500 and Dow Jones also experienced notable drops.
Apple iPhone 16 Launch
Apple’s iPhone 16 will be showcased at a 10 a.m. PT event on Monday, expected to drive a surge in iPhone upgrades. The company will also introduce new Apple Watch models and AirPods. Apple’s stock declined 3.6% last week and now faces a V-shaped cup-with-handle base with a 232.92 buy point.
Oracle Earnings
Oracle’s earnings report, due Monday evening, is anticipated to highlight AI achievements. The stock has been holding steady above its key moving averages and is working toward a 146.59 buy point.
