S&P 500 (SPY) Report – 09/12/23

Good morning traders!

The S&P 500 ($SPY) is trading below yesterday’s close. Let’s get into it… 

US stocks experienced a slight decline on Tuesday, with investors eagerly awaiting Apple’s upcoming fall event and the release of significant inflation data set for Wednesday. The S&P 500 futures saw a decrease of approximately 0.2%, while the Dow Jones Industrial Average futures dropped by around 0.1%. In the tech sector, all eyes are on Apple, which is predicted to unveil the iPhone 15. Additionally, the Arm IPO is generating significant buzz, with reports suggesting that its listing is up to 10 times oversubscribed.

On the economic front, investors are preparing for the release of the US consumer inflation data on Wednesday, which will provide insights into consumer spending trends. Following this, the August retail sales report due on Thursday will offer a deeper look into household spending patterns.

The economic data released this week is crucial, as it will potentially impact decisions made by the Federal Reserve in their upcoming September meeting. The primary concern for investors is understanding if further interest-rate hikes are imminent and whether these potential hikes have already been factored into the stock market’s current valuation.

Tuesday Economic Events:
NFIB Small Business Index 6:00am ET
Redbook Sales 8:55am ET
API Crude Oil Data 4:30pm ET

Fed Speaker Scheduled:
No Fed Speakers Scheduled

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