The S&P 500 Index ($SPX) (SPY) today is down -0.56%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.58%, and the Nasdaq 100 Index ($IUXX) (QQQ) is down -0.25%. September E-mini S&P futures (ESU25) are down -0.49%, and September E-mini Nasdaq futures (NQU25) are down -0.20%.
Stocks today initially rallied after the weak US unemployment report, which solidified market expectations for at least two Fed rate cuts by year-end. However, stocks then turned lower as market sentiment turned negative on concern about weaker US corporate earnings if the US economy is headed towards a recession.
