S&P 500 futures slipped slightly on Wednesday, down 0.1%, as traders prepared for potential losses at the start of October, spurred by rising tensions in the Middle East. Dow Jones Industrial Average futures fell by 64 points (0.2%), while Nasdaq-100 futures edged up by 0.1%.
Key Stock Movers:
Nike Inc (NYSE:NKE) shares are down 7.44% in pre-market and trading at $82.51 after withdrawing its full-year guidance ahead of a CEO transition. The sneaker giant’s stock slid.
The tech favorite NVIDIA Corp (NASDAQ:NVDA) stock dropped nearly 1% premarket.
Humana Inc (NYSE:HUM) shares plunged more than 22% due to disappointing Medicare Advantage data for 2025.
Market Impact of Middle East Tensions
The Dow, S&P 500, and Nasdaq Composite all ended Tuesday’s session in the red, impacted by growing investor fears surrounding the escalating conflict. Israel’s retaliation against Iranian missile strikes and heightened tensions with Hezbollah have created uncertainty in the markets. West Texas Intermediate crude oil surged another 3% following Tuesday’s gains, with energy stocks such as Energy Select Sector SPDR Fund (XLE) continuing to rise.
Payroll Growth and Federal Reserve Outlook:
September’s private payroll growth, as reported by ADP, exceeded expectations, adding 143,000 jobs versus the forecasted 128,000. Eyes are now on Friday’s nonfarm payroll report, which could influence the Federal Reserve’s rate decisions as its cutting cycle begins.
Chinese Stocks Surge Amid Stimulus Optimism:
Chinese companies saw continued gains due to optimism around broader stimulus measures. E-commerce giant JD.com and electric vehicle maker Li Auto both rose over 9%, while Baidu, PDD, and Alibaba also posted significant gains.
Oil Prices Surge:
West Texas Intermediate crude oil jumped by 3.5% to $72.30, while Brent crude increased 3.2% to $75.93, as the Middle East conflict continues to drive prices upward.
Stay tuned to U.S. Market Wire for more updates as market volatility increases amid global uncertainties.
