Stocks closed lower on Friday but expected to open higher on Monday

From Investing.com: 2024-09-09 09:03:00

Stocks closed 1.73% lower on Friday, hitting a local low of 5,402.62 due to lower-than-expected monthly jobs data. However, the market is expected to open 0.6% higher today with improving investor sentiment ahead of CPI data and the FOMC Rate Decision. The S&P 500 retraced more of its August rebound on Friday, forming a topping pattern below its mid-July record high. The Nasdaq 100 lost 2.69% and fell below the 18,500 level, while the VIX rose to 23.76, indicating elevated fear. The S&P 500 futures contract briefly fell below 5,400 but is rebounding with resistance at 5,480-5,500.



Read more at Investing.com: S&P 500: Rebound May Have Legs as Medium-Term Outlook Remains Bullish