S&P 500 Opens Lower as Jobs Data Looms Over Rate Decision

As seen on the 24/7 Wall St. homepage on August 31, 2026.

MARKET OPEN

U.S. Markets

Aug 31, 9:30am ET

S&P 500-0.51%
Nasdaq Composite—

Stocks gave back 39 points at the open, and this week's jobs data is the variable that decides whether the September rate call goes hawkish. Positioning ahead of those numbers is what today's session is really about.

Continue ReadingShow less

The S&P 500 opened lower on August 31, pulling the index to 7,672 and extending a stretch of choppy, mostly downward sessions over the past two weeks.

Traders are adjusting exposure ahead of this week's jobs data, which carries unusual weight because the Federal Reserve's September rate decision is still genuinely in play depending on what the numbers show.

A strong jobs report would give the Fed cover to hold rates higher for longer, pressuring equity valuations further. A soft report shifts the calculus the other way and stabilizes the index quickly.

The index has struggled to hold any rally for more than a day or two, which typically signals that the market is waiting for a catalyst rather than committing to a trend.

Related Market Updates

Data Release

10-Year Treasury Yield

Oct 9, 7:01pm ET

5.22%

-6 bp

The first real breather in a yield climb that has run above 5% since late summer, with the 10-year easing to 5.22%. Mortgage rates, bond funds, and anything rate-sensitive take their cue from this line.

V Visa

Oct 9, 6:00pm ET

New 52-week high $385.45 +0.3% vs prior high · 2026-08-25

Visa closed at a 52-week high of $385.45, clearing its August 25 peak by 0.34% and finishing a round trip from the $297 low set in April. At a $657 billion market cap, every further 1% adds roughly $6.6 billion.

SU Suncor Energy

Oct 9, 6:00pm ET

New 52-week high $72.23 +0.5% vs prior high · 2026-09-15

Suncor Energy topped its September 15 peak with a new 52-week high at $72.23. That level is the one to defend now.

TMUS T-Mobile US

Oct 9, 6:00pm ET

New 52-week low $148.58 -8.1% vs prior low · 2026-10-01

T-Mobile US set a fresh 52-week low at $148.58, taking out the October 1 floor by 8.13% just eight days later. A year ago the stock traded above $220.

SNOW Snowflake

Oct 9, 6:00pm ET

New 52-week high $368.89 +3.5% vs prior high · 2026-09-03

Snowflake set a fresh 52-week high at $368.89, more than double the $141 low this name traded at in April. A $130 billion market cap is now priced at the top of its one-year range.

PLTR Palantir

Oct 9, 6:00pm ET

New 52-week high $209.05 +0.9% vs prior high · 2025-11-03

Palantir closed at $209.05, a new 52-week high and 0.9% above the November 3 peak that had capped it for 11 months. The $481 billion name has nearly doubled off its mid-$115 low earlier this year.

HUM Humana

Oct 9, 6:00pm ET

New 52-week high $431.87 +5.4% vs prior high · 2026-09-11

Humana just set a 52-week high at $431.87, more than double its March low. Anyone who wrote off the managed care name at that bottom has missed the whole round trip.

JOBY Joby Aviation

Oct 9, 6:00pm ET

New 52-week low $5.44 -5.4% vs prior low · 2026-10-08

Joby Aviation marked a new 52-week low at $5.44, undercutting yesterday's low by another 5.39% and leaving the air taxi name at a $5.4 billion market cap. Second fresh low in two sessions, with no prior floor left on the chart.

DDOG Datadog

Oct 9, 6:00pm ET

New 52-week high $293.26 +1.8% vs prior high · 2026-08-04

Datadog cleared its August 4 peak with a new 52-week high at $293.26. The observability name has nearly tripled off its February low.

CMCSA Comcast

Oct 9, 6:00pm ET

New 52-week low $20.66 -1.3% vs prior low · 2026-10-07

Comcast just marked a new 52-week low at $20.66, 1.34% under the floor it set two days earlier. The media giant's market cap is down to $73.1 billion, and each new low is coming faster than the last.

IPO PRICED

Retension Pharmaceuticals, Inc.

Oct 9, 5:29pm ET

$12 / share

$45M raise 3,750,000 shares

Priced at $12, raising roughly $45 million

Retension Pharmaceuticals priced at $12 a share, locking in about $45 million from 3.75 million shares with Leerink Partners and Guggenheim Securities leading the deal. Trading opens with terms set, so the first tick is the only entry point left.

THE IPO WIRE

Bambusa Therapeutics, Inc. BBTX · Nasdaq

Oct 9, 5:08pm ET

Bambusa Therapeutics files for Nasdaq IPO as BBTX

Bambusa Therapeutics filed its S-1 to list on Nasdaq, with BofA Securities, Evercore ISI, UBS and Cantor Fitzgerald running the books. A four-bank syndicate of that caliber signals a sizable deal, and terms are still to come, so pricing is the next thing to watch.