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The three things you need to know today.
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First up, markets are looking to start the week in the green. US stock futures edging higher ahead of the opening bell as investors wait on key inflation data ahead of the Fed meeting next week.
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Both the consumer and producer price indexes are due, and it comes after a weak August jobs report, highlighting the continued slowdown of the labor market.
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And Wall Street almost certainly is certain that the Fed will start cutting rates next week. The CME watch tool Fed watch tool showing an 88% chance of a quarter point cut.
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Plus, all eyes are on Apple. The tech giant set to unveil its newest phone on Tuesday, the iPhone 17. It’s expected to have a better camera, a larger screen, and the new Air model, which will be the thinnest iPhone ever.
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But the new phones will also likely come with a higher price tag. The Pro Max expected to cost upwards of $1,200.
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And the S&P 500 is getting a new look. Three new stocks are set to be added to the index including Robin Hood, AppLovin and M.core as part of the S&P’s quarterly rebalancing.
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Robin Hood and AppLovin missed the cut last quarter, which had weighed on the stocks.
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The changes go into effect later this month.
