# US Stock Futures Edge Higher Amid Cautious Optimism; Analyst Says How Fed Packages Sept. Pause Key For Market Direction – PTC Therapeutics (NASDAQ:PTCT), Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), Stitch Fix (NASDAQ:SFIX), ARM Holdings (NASDAQ:ARM)  Stock futures are indicating a cautiously optimistic start on Monday as traders await the Federal Reserve’s interest rate decision on Wednesday. The housing market reading is the only notable economic data due for release after the market opens. In the absence of major cues, traders will likely focus on bond yields, oil prices, and analysts’ views on the Fed decision. ### Cues From Past Week’s Trading: In the previous week, stocks closed with little change as traders reacted to various factors including slight inflation pick up at wholesale and retail levels, a spike in oil prices, ARM Holdings’ IPO, Apple’s iPhone launch event, and a strike threat by the United Auto Worker’s union. The major averages showed a lack of clear direction, with the S&P 500 and Nasdaq Composite indices falling for a second straight week. ![US Index Performance In Week Ended Sept. 15]() Analyst Color: LPL Financial Chief Global Strategist, Quincy Krosby, believes that “how the Fed packages the expected pause” is crucial as labor strikes and recent successful negotiations point towards higher wages and potential inflationary pressures. The market will closely watch Fed Chair Jerome Powell’s remarks. ### Futures Today ![Futures Performance On Monday]() In premarket trading, the SPDR S&P 500 ETF Trust (SPY) gained 0.14% to $444.01, and the Invesco QQQ ETF (QQQ) rose 0.13% to $370.76, according to Benzinga Pro data. The CBOE Volatility Index futures slipped 0.27% to 15.65. ### Upcoming Economic Data: The key economic event of the week will be the Federal Open Market Committee’s two-day monetary policy meeting, starting on Tuesday, which will culminate in an interest rate decision announcement and press conference by Powell on Wednesday. The Fed will also release its summary of economic projections, including the all-important dot-plot curve. Other key economic data for the week includes housing market readings, the Conference Board’s leading economic index, Fed speeches, and flash S&P Global manufacturing and services purchasing managers’ readings for September. ### Stocks In Focus: – Apple, Inc. (AAPL) rose in premarket trading as strong preorders were expected for its high-end iPhones, particularly the pricier iPhone 15 Pro Max. – Stitch Fix, Inc. (SFIX) is scheduled to release its quarterly results after the market close. – PTC Therapeutics, Inc. (PTCT) fell about 5% after being downgraded by Raymond James to an Underperform rating. ### Commodities, Bonds, Other Global Equity Markets: Crude oil futures extended their gains, reaching $90.61 in early European session trading on Monday. Oil prices gained 3.73% in the past week due to supply concerns. The benchmark 10-year Treasury note rose to 4.347%. Most Asian markets ended lower, while European stocks were in the red. [Read Next: El-Erian Says Bargaining Power Shifts To Workers As Labor Strikes Rise To 23-Year High: ‘Surprised It Took So Long’](https://www.benzinga.com/news/23/09/34680506/el-erian-says-bargaining-power-shifts-to-workers-as-labor-strikes-rise-to-23-year-high-surprised-it)

By James TaylorSeptember 18, 2023Updated:September 18, 2023No Comments1 Min Read