US stock futures edged up as Wall Street counted down to Apple (AAPL)’s annual iPhone event ahead of the release of critical economic data later this week.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) rose roughly 0.1%.
Stocks rose on Monday, lifting the Nasdaq Composite (^IXIC) to a record high. Investors are digesting a slew of indications the labor market is in the midst of a slowdown. The signs have convinced Wall Street the Federal Reserve will cut rates at its September meeting, with the debate shifting to how large the rate reduction might be.
On Tuesday, Wall Street will get further insight into the labor market after the Bureau of Labor Statistics publishes revisions to earlier months’ jobs data. Economists expect the new numbers to show slower job growth. Oracle (ORCL) and GameStop (GME) are also set to report earnings after the bell.
The main event of the day, however, will be Apple’s iPhone event, where the tech giant is expected to showcase devices including the iPhone 17 and iPhone Air as well as new watches and heart rate-tracking AirPods. Experts question whether the latest iPhone can generate enough consumer interest to drive up sales, especially following a tariff-fueled buying frenzy earlier this year.
The most crucial releases will land later this week, with the latest reading of the producer price index (PPI) arriving on Wednesday and the consumer price index (CPI) Thursday. Fed officials face a tricky balancing act in trying to manage stubborn inflation against an increasingly shaky labor market. The CPI and PPI readings will shine light on whether rising prices could become a significant stumbling block to deep or sustained interest rate cuts.
Coming soon
Stock market coverage for Tuesday, September 9, 2025.