Happy Tuesday. Last Friday's August payrolls gave investors a glimpse of downward revisions for June. Today, they got the bulk of 2024's changes and they're ugly. The figure of 911,000 fewer jobs added in the 12 months through March 2025 was way lower than analysts expected. But stocks mostly stayed within throwing distance of where they started the day.
The Dow (+0.18%) was in the green going into the afternoon trade, The S&P 500 (+0.04%), Nasdaq (+0.15%) and Russell 2000 (-0.63%) fell from earlier levels. Investors now will turn their attention to the Producer Price Index and Consumer Price Index later this week for greater clarity on the state of the economy. The reports also will offer clues to the size and scale of possbile Federal Reserve interest-rate cuts.
Tuesday Reading
Meantime, most of Wall Street (and Main Street) is going to lock in on two big tech festivities. First, the Apple keynote in Cupertino, Calif. Today, the tech giant is expected to unveil a series of new products, including four new iPhone 17 handsets. That event is on deck for this afternoon and could move the tech giant's shares.
And second, we're getting earnings from one of tech's most perplexing comeback stories: Oracle, which is slated to report after the bell. The tech company went from relative obscurity to a comeback name after bidding to acquire and run the U.S. version of TikTok during President Donald Trump's first term. Now, it has transformed into a full-fledged cloud giant, making a bid for AI stardom.
Synopsys, Rubrik and GameStop are also scheduled to report after the bell...
TurboTax Via TheStreet
-- Noah Weidner, markets reporter
