September S&P 500 E-Mini futures are down -0.75%, with Nasdaq 100 E-Mini futures down -0.95% after Treasury yields climbed. Investors anticipate remarks from Fed officials, earnings reports, and U.S. economic data, notably Friday’s nonfarm payrolls report. Wall Street saw major equity averages decline on Friday. Marvell Technology, Dell Technologies, and Caterpillar experienced significant losses, while Autodesk gained after positive Q2 results and Q3 guidance.

Data from the U.S. Department of Commerce released on Friday showed core PCE price index and personal spending rising in July, in line with expectations. Chicago PMI fell in August, while the University of Michigan’s consumer sentiment index was unexpectedly revised lower. San Francisco Fed President Mary Daly indicated potential interest rate cuts soon due to temporary inflation pressures from tariffs.

U.S. rate futures have a 91.8% chance of a 25 basis point rate cut at the September FOMC meeting. Tech stock selloff on Wall Street faces a test this month with key economic data, Fed rate decision, and tariff tensions. August Nonfarm Payrolls report will be crucial for Fed officials, along with other labor market data.

Perspectives from various Fed officials and the release of the Beige Book survey are scheduled this week. Several high-profile companies are set to report quarterly results. Recent court ruling on President Trump’s tariffs adds to uncertainty. U.S. ISM and S&P Global Manufacturing PMI data, as well as Construction Spending data, will be released today.

Euro Stoxx 50 Index is down -0.52%, led by real estate and retail stock weakness. Eurozone inflation accelerated slightly in August. China’s Shanghai Composite Index closed down after a recent rally, with attention on military parade plans. Japan’s Nikkei 225 Stock Index reversed losses, supported by bargain hunting, with energy, industrial, and financial stocks outperforming.

Pre-market U.S. stock movers include Nvidia, Amazon.com, and chip stocks like Marvell Technology, Micron Technology, and Intel. Fortinet and e.l.f. Beauty fell, while Zscaler rose after analyst actions. Earnings spotlight includes Zscaler, Healthequity Inc, Signet Jewelers, Academy Sports, and Great Elm Group.

Read more at Yahoo Finance: Stocks Set to Open Lower as Bond Yields Climb, U.S. Jobs Data Awaited