Wall Street Starts September With Caution: Oil, Yields & Tech Earnings

of the market open, let's head out to Chicago before the first trading session of September from Cibo.

Now, traders there are paying attention to key earnings out from Dell as well as Palo Alto Networks after the close today.

And joining me from the Cibo trading floor is FinTech TV correspondent Mark Payton.

Mark, good morning and thank you so much for joining us today.

So first, what pre-market action are you watching this morning?

Good morning, Remy.

Yeah, we're starting September with a little more caution.

S&P futures are down about half a percent this morning, so we're looking at a weaker open on Wall Street.

A big part of the pressure comes from higher oil prices and Treasury yields.

Oil's up more than 2 percent this morning, while the 10-year Treasury yield is around 4.8 percent.

The VIX is also moving higher CBOE's volatility index is around 15.9, up more than 6%.

So we're seeing some increased nervousness.

And small caps are under pressure as well.

Russell 2000 futures are down about 0.5% this morning.

So a more cautious start to September here at CBOE Chicago.

Yeah, and Mark, it is going to be a busy session today in terms of data releases.

But after the closing bell, we will be getting earnings out from Dell, Palo Alto Networks, as well as MongoDB.

So how are traders gearing up for those reports after the bell?

Yeah, three big tech reports after the bell today.

And it really gives us three different reads on where companies are spending their money.

So let's start with Dell.

This is really another way to gauge the AI infrastructure boom.

NVIDIA makes many of the chips powering AI, while Dell builds and sells the servers that put those chips to work.

So traders are going to be watching AI server demand orders and whether Dell can keep up with the momentum.

Then Palo Alto Networks.

This is one of those big names in cybersecurity.

So investors will be watching whether security spending remains strong and what the company says about AI-driven demand going forward.

And finally, MongoDB.

That's a database software company that helps businesses manage the data behind their applications, and increasingly, AI applications.

So three reports after the bell in three different windows into tech spending.

AI infrastructure with Dell, cybersecurity with Palo Alto, and data and software with MongoDB.

Mark, appreciate you joining us all the way from the CBO trading floor this morning and for sharing your insights.

Have a great day.