US Stock Market Today: S&P 500 Futures Slip as Rate Cut Bets Rise Amid Weak Jobs Data

US stock futures are slipping this morning, with S&P 500 contracts down around 0.1 percent. The key factor driving the mood is a drop in the 10-year Treasury yield to 4.04 percent, its lowest in a month, after central bank officials suggested lower rates might be coming soon because the US job market is losing steam. This means borrowing money could get cheaper, but it also hints that economic growth is not as strong as investors hoped. On one hand, falling rates could lift real estate and technology shares, which benefit when loans are easier to get. On the other hand, a weakening manufacturing sector raises big questions about profits for industrial and energy companies. So investors are left weighing whether good news on rates can outweigh concerns about a slowing economy, especially for parts of the market tied to growth and consumer spending.

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Lumentum Holdings (LITE) soared 17.13 percent after Needham raised its price target, citing data center growth opportunities.

Sandisk (SNDK) gained 13.33 percent as Morgan Stanley boosted the price target on expectations of strong earnings.

Credo Technology Group Holding (CRDO) surged 13.00 percent after announcing a new licensing agreement for its cable technology patents.

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Carnival Corporation & (CCL) dropped 6.78 percent, continuing a recent losing streak as cruise stocks cooled off.

Copart (CPRT) fell 4.47 percent after analysts cited ongoing insurance headwinds and revised price targets.

BeOne Medicines (ONC) declined 4.32 percent.

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Tech and retail earnings are set to drive today's market action ahead of key macro catalysts later in the week.

Analog Devices (ADI) Q4 results on Tuesday will spotlight semiconductor demand trends and margin outlooks as chip stocks rebound.

HP (HPQ) reports Q4 earnings on Tuesday, offering a read on PC demand and cost controls during a challenging tech cycle.

Alibaba Group Holding (BABA) Q2 earnings Tuesday pre-market could reveal the pace of China’s consumer recovery and e-commerce momentum.

Li Auto (LI) Q3 results will be released pre-market Wednesday. These results are key for gauging profitability and sales momentum in China's fast-evolving EV sector.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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