Stock market today: Live updates

Stock futures hovered near the zero line on Monday evening after major indices recovered from their worst week of 2024.

Futures linked to the S&P 500 0.1% added, while Nasdaq 100 futures rose by 0.1%. Dow Jones Industrial Average futures were hardly changed.

In expanded trading cloud platform companies oracle rose nearly 9% after first-quarter results beat expectations. Oracle also announced a partnership with Amazon Web Services to provide database services.

On Monday, the three major indices made a strong comeback after their worst week this year as investors bought on dips. S&P500 rose 1.16%, ending a four-day losing streak and recording its first day of gains in September. Nasdaq-Composite also closed 1.16% higher, supported by a jump in Nvidia. The Dow rose by 484 points or 1.2 percent.

The moves come as investors are betting that a widely anticipated interest rate cut at the Federal Reserve's Sept. 17-18 meeting could ease concerns about a weakening economy. The August jobs report released last Friday showed growth of 142,000 jobs, below economists' expectations. The results contributed to a wave of selling that day.

Traders are eyeing two key economic reports that are likely to act as the next catalysts for stock prices. The consumer price index report for August is due out on Wednesday, followed by the producer price index on Thursday.

September is historically a weak month for equities. Investors remain cautious about the impact of seasonality on equity performance as well as uncertainty surrounding the upcoming U.S. presidential election on November 5.

“We agree that the market is likely to remain choppy at least until the election,” wrote Ohsung Kwon, equity and quantitative strategist at Bank of America, on Monday. “Macro data has weakened, particularly in the manufacturing/goods sector, which accounts for 50% of the S&P 500's returns.”