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Stock market today: Dow futures up as Wall Street eyes the one thing that could derail Fed rate cut

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Stock futures gained momentum on Sunday evening as investors brace for fresh inflation data and political turmoil overseas that could ripple through the bond market.

That comes as Friday’s dismal jobs report ratcheted up recession fears while also locking in odds for a rate cut later this month from the Federal Reserve.

Futures tied to the Dow Jones Industrial Average rose 94 points, or 0.21%. S&P 500 futures were up 0.23%, and Nasdaq futures added 0.38%.

The yield on the 10-year Treasury was flat at 4.091%. The U.S. dollar was up 0.05% against the euro and up 0.65% against the yen after Japan’s prime minister announced he will step down after less than a year in office.

More political turmoil in the world fourth-largest economy could rattle the bond market as investors gauge whether the next leader will lean toward fiscal discipline or more profligacy.

Similarly, France’s government faces a confidence vote on Monday after bond vigilantes sent French yields higher on expectations for more gridlock and no progress on reining in deficits.

U.S. oil prices rose 0.32% to $62.07 per barrel, and Brent crude added 0.40% to $65.76. That’s despite key OPEC+ members agreeing on another production hike meant to grab more market share.

Gold fell 0.64% to $3,630 per ounce, but still hovering near record highs after recession fears sent safe-haven assets higher last week.

More recession signals were lurking in the latest jobs data. On Sunday, Moody’s Analytics chief economist Mark Zandi point out that most U.S. industries have been shedding jobs rather than adding them for several months, warning that “this only happens when the economy is in recession.”

Such labor market weakness basically guaranteed a Fed rate cut. According to CME’s FedWatch tool, Wall Street is certain that some kind of cut is coming when the central bank announces its policy decision on Sept. 17. The only question is whether it will be 25 basis points or 50 basis points. Right now, a 92% probability of a quarter-point cut is priced in.

Perhaps the only thing that could put a rate cut in doubt is a surprise spike in inflation. The effect of President Donald Trump’s tariffs on inflation has been more muted that anticipated, but investors will get crucial updates.

On Wednesday, the producer price index for August will come out, and economists expect a 0.3% month increase, cooling from the 0.9% surge in July.

On Thursday, the consumer price index is due, and Wall Street sees a 0.3% gain, accelerating from the 0.2% pace a month earlier. On an annual basis, the CPI is also seen heating up, with August expected to see a yearly pace of 2.9%, up from 2.7% in July.

But inflation in core consumer prices should remain steady at a monthly rate of 0.3% and an annual rate of 3.1%. Still, both the headline CPI and core CPI would continue to be above the Fed’s 2% target.

On Tuesday, the Labor Department will publish preliminary benchmark revisions to its establishment survey data for 2025. With revisions earlier this year mostly trimming prior readings, more downward revisions could be due.

Meanwhile, Fed Governor Lisa Cook is fighting Trump’s attempt to fire her, and a judge hearing the case could issue a ruling in the coming week, clarifying whether she will be able to participate in the FOMC meeting.

In addition, the Senate could vote on Trump’s nomination of White House economic adviser Stephen Miran to the Fed’s board of governors, allowing him to take part in the meeting.

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Texas A&M fires professor amid gender identity teaching backlash

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HOUSTON (AP) — A professor at Texas A&M University was fired and others were removed from their positions after a video surfaced in which a student confronted the instructor over her teaching of issues related to gender identity in a class on children’s literature.

The firing of Melissa McCoul, a senior lecturer in the English department with over a decade of teaching experience, came after political pressure from Republican lawmakers, including Gov. Greg Abbott, who had called for her termination.

The incident prompted Glenn Hegar, the chancellor of the Texas A&M University System, to order an audit of courses at all 12 schools in the system.

“It is unacceptable for A&M System faculty to push a personal political agenda,” Hegar said in a statement on Monday. “We have been tasked with training the next generation of teachers and childcare professionals. That responsibility should prioritize protecting children not engaging in indoctrination.”

In an email, McCoul referred all questions to her attorney, Amanda Reichek. Reichek said in a statement that McCoul has appealed her termination and “is exploring further legal action.”

“Dr. McCoul was fired in derogation of her constitutional rights and the academic freedom that was once the hallmark of higher education in Texas,” Reichek said.

Texas A&M University President Mark A. Welsh III said in a statement Tuesday he directed the campus provost to fire McCoul after learning the instructor had continued teaching content in a children’s literature course “that did not align with any reasonable expectation of standard curriculum for the course.”

Welsh said the issue had been raised earlier this summer and he had “made it clear to our academic leadership that course content must match catalog descriptions for each and every one of our course sections.” Welsh said he learned on Monday that this was not taking place.

“This isn’t about academic freedom; it’s about academic responsibility,” Welsh said.

In her statement, Reichek pushed back on Welsh’s claims that McCoul’s teaching did not match the course description.

“Professor McCoul’s course content was entirely consistent with the catalog and course description, and she was never instructed to change her course content in any way, shape, or form,” Reichek said. “In fact, Dr. McCoul taught this course and others like it for many years, successfully and without challenge.”

Welsh also ordered the removal of the dean of the College of Arts and Sciences and the head of the English Department from their administrative positions.

The actions by Texas A&M were criticized by faculty and writers’ groups.

“We are witnessing the death of academic freedom in Texas, the remaking of universities as tools of authoritarianism that suppress free thought,” Jonathan Friedman, Sy Syms Managing Director of U.S. Free Expression Programs at PEN America, said in a statement.

The Texas chapter of the American Association of University Professors said what happened at Texas A&M University should concern every Texan.

“Not only has the integrity of academic freedom come under fire, but the due process rights of a faculty member have been trampled at the urging of state politicians + the governor himself,” the group said in a statement.

The controversy began on Monday after Republican state Rep. Brian Harrison posted a video, audio recordings and other materials on a thread on the social media site X. Harrison called for the professor and Welsh to be fired for “DEI and LGBTQ indoctrination.”

In one video, a female student and the professor can be heard arguing over gender identity being taught in a children’s literature class. The student and professor are not shown and it’s unclear when the video was taken.

“This also very much goes against not only myself but a lot of people’s religious beliefs. And so I am not going to participate in this because it’s not legal and I don’t want to promote something that is against our president’s laws as well as against my religious beliefs,” the student could be heard saying in the video.

“If you are uncomfortable in this class you do have the right to leave. What we are doing is not illegal,” the professor said.

In her back-and-forth with the professor, the student mentioned an executive order that President Donald Trump signed earlier this year in which he said “it is the policy of the United States to recognize two sexes, male and female.”

A Texas law took effect on Sept. 1 that forbids Texas K-12 schools from teaching about sexual orientation or gender identity. The law does not apply to universities and other institutions of higher education.

Texas A&M is located in College Station, about 95 miles (153 kilometers) northwest of Houston.

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Follow Juan A. Lozano: https://x.com/juanlozano70





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Charlie Kirk: Trump ally shot dead at campus event in Utah

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Pelosi and Giffords react to Kirk’s shootingpublished at 21:03 British Summer Time

US politicians are sharing their shock after the shooting of Charlie Kirk.

Congresswoman Nancy Pelosi, a Democrat, says she is praying for Kirk’s recovery.

“Political violence has absolutely no place in our nation.

All Americans should pray for Charlie Kirk’s recovery and hold the entire UVU community in our hearts as they endure the trauma of this gun violence,” she wrote on X.

Former US representative Gabby Giffords also posted, condemning violent responses to political differences. In 2011, Giffords was shot in the head during a meeting with constituents in a grocery store parking lot. She survived, but resigned from office due to a brain injury.

“Democratic societies will always have political disagreements, but we must never allow America to become a country that confronts those disagreements with violence,” she said.



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Past life on Mars? NASA rover finds strongest hints yet in Martian rocks

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CAPE CANAVERAL, Fla. (AP) — NASA’s Mars rover Perseverance has uncovered rocks in a dry river channel that may hold potential signs of ancient microscopic life, scientists reported Wednesday.

They stressed that in-depth analysis is needed of the sample gathered there by Perseverance — ideally in labs on Earth — before reaching any conclusions.

While acknowledging the latest analysis “certainly is not the final answer,” NASA’s science mission chief Nicky Fox said it’s ”the closest we’ve actually come to discovering ancient life on Mars.”

Roaming Mars since 2021, the rover cannot directly detect life, past or present. Instead, it carries a drill to penetrate rocks and tubes to hold the samples gathered from places judged most suitable for hosting life billions of years ago. The samples are awaiting retrieval to Earth — an ambitious plan that’s on hold as NASA seeks cheaper, quicker options.

Calling it an “exciting discovery,” a pair of scientists who were not involved in the study — SETI Institute’s Janice Bishop and the University of Massachusetts Amherst’s Mario Parente — were quick to point out that non-biological processes could be responsible.

“That’s part of the reason why we can’t go so far as to say, ‘A-ha, this is proof positive of life,’’’ lead researcher Joel Hurowitz of Stony Brook University told The Associated Press. “All we can say is one of the possible explanations is microbial life, but there could be other ways to make this set of features that we see.”

Either way, Hurowitz said it’s the best, most compelling candidate yet in the rover’s search for potential signs of long-ago life. It was the 25th sample gathered; the tally is now up to 30. The findings appeared in the journal Nature.

“It would be amazing to be able to demonstrate conclusively that these features were formed by something that was alive on another planet billions of years ago, right?” Hurowitz said. But even if that’s not the case, it’s “a valuable lesson in all of the ways that nature can conspire to fool us.”

Collected last summer, the sample is from reddish, clay-rich mudstones in Neretva Vallis, a river channel that once carried water into Jezero Crater. This outcrop of sedimentary rock, known as the Bright Angel formation, was surveyed by Perseverance’s science instruments before the drill came out.

Along with organic carbon, a building block of life, Hurowitz and his team found minuscule specks, dubbed poppy seeds and leopard spots, that were enriched with iron phosphate and iron sulfide. On Earth, these chemical compounds are the byproducts when microorganisms chomp down on organic matter.

“There is no evidence of microbes on Mars today, but if any had been present on ancient Mars, they too might have reduced sulfate minerals to form sulfides in such a lake at Jezero Crater,” Bishop and Parente wrote in an accompanying editorial.

There’s no evidence of present-day life on Mars, but NASA over the decades has sent spacecraft to Mars in search of past watery environments that might have supported life way back when.

When Perseverance launched in 2020, NASA expected the samples back on Earth by the early 2030s. But that date slipped into the 2040s as costs swelled to $11 billion, stalling the retrieval effort.

Until the samples are transported off of Mars by robotic spacecraft or astronauts, scientists will have to rely on Earthly stand-ins and lab experiments to evaluate the feasibility of ancient Martian life, according to Hurowitz.

NASA’s acting Administrator Sean Duffy said budgets and timing will dictate how best to proceed, and even raised the possibility of sending sophisticated equipment to Mars to analyze the samples on the red planet. “All options are on the table,” he said.

Ten of the titanium sample tubes gathered by Perseverance were placed on the Martian surface a few years ago as a backup to the rest aboard the rover, all part of NASA’s still fuzzy return mission.

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The Associated Press Health and Science Department receives support from the Howard Hughes Medical Institute’s Department of Science Education and the Robert Wood Johnson Foundation. The AP is solely responsible for all content.





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