Stock futures started the week with a quiet lift, recovering ground after Friday’s pullback as investors grew increasingly confident that the Federal Reserve will ease monetary policy soon. A softer nonfarm payrolls report last week has pushed the market-priced odds of a 25 basis-point rate cut in September to around 90%, with some even contemplating a potential half-point cut.
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Barclays has raised its projection to three rate cuts for 2025, up from two, while Standard Chartered now expects 50 basis points of easing in September alone. Markets are also positioning for key inflation data due later this week, including upcoming CPI readings that could sway the Fed’s decision.
Safe-haven assets remain a theme as gold continues its relentless ascent, breaking through the $3,600-an-ounce threshold for the first time, buoyed by the combination of dovish policy expectations, central bank demand, and geopolitical uncertainty.
In pre-market trading, S&P 500 futures rose 0.22%, Nasdaq futures rose 0.35% and Dow futures rose 0.18%.
Check out this morning’s top movers from around Wall Street, compiled by The Fly.
HIGHER –
- Rapport Therapeutics (RAPP) up 190% after reporting that the Phase 2a clinical trial of RAP-219 in patients with drug-resistant focal onset seizures met its primary endpoint
- Forward Industries (FORD) up 105% after announcing $1.65B in cash and stablecoin commitments for a private investment in public equity offering to initiate a Solana-focused digital asset treasury strategy
- EchoStar (SATS) up 20% after entering into a definitive agreement with SpaceX to sell the company’s AWS-4 and H-block spectrum licenses for approximately $17B
- AppLovin (APP), Robinhood (HOOD) and Emcor (EME) up 9%, 8% and 2%, respectively, after being picked for inclusion in the S&P 500
- Premier (PINC) up 8% after Bloomberg reported Jim Momtazee’s Patient Square Capital is exploring an acquisition of the company
LOWER –
- Dianthus (DNTH) down 14% after reporting top-line data from the Phase 2 MaGic trial evaluating the safety and efficacy of claseprubart in adults with acetylcholine receptor antibody positive generalized Myasthenia Gravis
- Summmit Therapeutics (SMMT) down 17% after announcing data from the Phase III HARMONi trial featuring the investigational bispecific antibody, ivonescimab
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