Pre-markets Flat Following AI Tech Boost

Tuesday, September 23, 2025Pre-market futures are flat this morning, following yet another all-time closing high across major indexes Monday. Propelling stocks forward yesterday was the blockbuster announcement that NVIDIA NVDA would be investing $100 billion into private firm OpenAI (ChatGPT’s parent) to build out databases for AI cloud services.It’s a massive undertaking that will require some time for most of us not named Jensen Huang to comprehend. But the tech rally looks a bit exhausted at this hour: the Nasdaq is up 1.5 points (0.006%). S&P 500 futures are down -1 point, while yesterday’s laggard, the Dow, is up +50 points. Bond yields are slowly advancing: +4.14% on the 10-year and +3.59% this morning.S&P flash Services & Manufacturing PMI After the BellOnce the regular trading session in underway, S&P flash Services and Manufacturing PMI will come out. As we discussed in this space yesterday afternoon, we’ve seen Services remain steadily above the 50 threshold that determines expansion from contraction. What analysts are looking for is a steady decline for September: from 55.7 in July to 54.5 in August to 53.8 this time around. Any upside surprises would certainly be welcomed.Manufacturing prints have been a bit more volatile and challenged, as we can see from the previous two reports and today’s estimate: 49.8 July (sub-50), 53.0 August, 51.5 forecast for September — basically splitting the distance between the prior tow months. The August number, by the way, is the strongest we’ve seen in more than three years.New Labor Metric: Chicago Fed Labor Market IndicatorChicago Fed President Austan Goolsbee appeared on CNBC’s “Squawk Box” this morning to unveil a new labor report, called the Chicago Fed Labor Market Indicator. It is said to provide twice-monthly real-time insights on hiring, layoffs and job separations, an early forecast on the Unemployment Rate. Data will be supplied by ADP ADP, Google GOOGL and labor website Indeed.Perhaps it will take a little time to provide any meaningful impact. This morning, the Chicago Fed Labor Market Indicator was in-line with the prior print of 4.3% — exactly what we saw from the most recent Unemployment Rate from the U.S. Bureau of Labor Statistics (BLS).Questions or comments about this article and/or author? Click here>>Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Automatic Data Processing, Inc. (ADP): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Alphabet Inc. (GOOGL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks