Stocks seek direction ahead of Trump-Biden debate

FAN Editor

Stock were little changed Tuesday morning ahead of the first presidential debate between President Donald Trump and Democratic candidate Joe Biden.

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Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 27519.4 -64.66 -0.23%
SP500 S&P 500 3350.15 -1.45 -0.04%
I:COMP NASDAQ COMPOSITE INDEX 11125.372827 +7.85 +0.07%

DOW JUMPS 410 POINTS AS TECH, FINANCIALS PACE GAINS

The declines came after strong gains on Monday, with the three major indices all rising more than 1.5% but the rally likely won’t be enough to reverse what is on pace to be a down month for U.S. stocks as September winds down.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 27526.42 -57.64 -0.21%
SP500 S&P 500 3350.42 -1.18 -0.04%
I:COMP NASDAQ COMPOSITE INDEX 11122.996753 +5.47 +0.05%

The debate, being moderated by Fox News’ Chris Wallace, will focus on a number of topics, including the coronavirus pandemic, the economy and racial unrest in the country.

Late Monday night, deaths associated with the COVID-19 pandemic surpassed 1 million globally, including 200,000 in the U.S.

Separately on Monday, Speaker of the House of Representatives Nancy Pelosi unveiled a $2.2 trillion stimulus bill to help the economy which has been negatively impacted by the pandemic. The relief package is intended to “avert catastrophe for schools, small businesses, restaurants, performance spaces, airline workers and others.”

Ticker Security Last Change Change %
AMZN AMAZON.COM INC. 3,170.87 -3.18 -0.10%

In corporate news, Amazon unveiled its latest attempt to take on the mobile payments market, with Amazon One. The technology, first rolling out in Amazon’s home market of Seattle, will use palm recognition technology to turn people’s hands into a credit card.

The news comes one day after the Jeff Bezos-led company officially announced its annual “Prime Day” shopping event, set to start to Oct. 13.

Papa Johns reported strong September sales with a jump of 18.4% for North American shops.

Ticker Security Last Change Change %
PZZA PAPA JOHNS INTL 84.09 +0.67 +0.80%

Japanese telecom company NTT announced a $40 billion merger for the remaining portion of NTT DoCoMo that it does not already own, according to Reuters.

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On the economic front, traders will be looking to see how the housing market is holding up. At 9 a.m., the S&P Case Shiller Home Price Index for July is expected to show an increase in home prices of 0.3%.

Ticker Security Last Change Change %
XHB SPDR SERIES TRUST SPDR S&P HOMEBUILDERS ETF 53.57 -0.06 -0.11%

September consumer confidence data is slated to be released at 10 a.m., with investors looking for a reading of 88.5, up from 84.8 in the prior month.

European markets were also slightly lower in mid-Tuesday trading, with the FTSE 100 and DAX both declining approximately 0.6%.

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Fox News’ Bradford Betz contributed to this story.

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