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Investors are also likely to adjust their risk appetite on the basis of last night’s presidential debate, which saw Vice President Kamala Harris put in a strong performance against her rival, former President Donald Trump, in a sharp-elbowed contest that touched on the economy, foreign policy and both candidates’ domestic agenda.
Related: Bond market sends startling signal for stocks
Heading into the start of the trading day, futures contracts tied to the S&P 500 suggest a 17 point opening bell decline, with those tied to the Dow Jones Industrial Average priced for a pullback of around 162 points.
The tech-focused Nasdaq, meanwhile, is called 60 points lower, with Nvidia (NVDA) , Tesla (TSLA) and Apple (AAPL) all trading in the red.
Other stocks on the move include Trump Media & Technology Group (DJT) , the owner of former President Trump’s Truth Social website, which tumbled 14.9% following last night’s debate.
Bank of America (BAC) shares extended their recent run of declines, falling another 0.97% in premarket, following another share sale by billionaire investor Warren Buffett, who has dumped more than 7.1 billion in shares of the lender since mid-July.
JPMorgan (JPM) shares, as well, were trading in the red, falling another 0.5% in premarket market following yesterday’s 5.2% slump tied to a muted near-term outlook presented at a banking event yesterday in New York.
In the bond market, benchmark 2-year note yields hit the lowest levels in more than two years in overnight trading and were last changing hands at 3.561% ahead today’s inflation report.
Benchmark 10-year notes, meanwhile, slipped to 3.607% ahead of a $39 billion auction of new notes later in the session.
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In overseas markets, Europe’s Stoxx 600 was marked 0.12% higher in early Frankfurt trading ahead of tomorrow’s European Central Bank rate decision, with the FTSE 100 down 0.05% in London.
Overnight in Asia, the regional MSCI ex-Japan benchmark slipped 0.29% into the close of trading, while the Nikkei 225 closed 1.49% lower in Tokyo.
Related: Veteran fund manager sees world of pain coming for stocks
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