Pre-opening Comments for Thursday September 17^th

U.S. equity index futures were higher this morning. S&P 500 futures were up 97 points at 8:35 AM EDT.

S&P 500 futures added 5 points following release of U.S. economic news at 8:30 AM EDT. Consensus for August U.S. Housing Starts was an increase to 1.3 million units from 1.2 million units in July. Actual was 1.28 million units. Consensus for the September Philly Fed Survey was a drop to 34.0 from 47.4 in August. Actual was a drop to 37.8.

Lennar (LEN) dropped $2.37 to $75.33 after reporting lower than consensus fiscal third quarter earnings and revenues

Generac (GNRC) added $62.39 to $237.50 after announcing an agreement with Amazon to supply data center power generators.

Nokia (NOK) added $0.48 to $9.32 after announcing a partnership with Microsoft.

EquityClock’s Market Outlook for September 17^th

The Dow and S&P 500 Equal Weight Index highlight a short-term trend change in the market. See:

https://equityclock.com/2026/09/16/stock-market-outlook-for-september-17-2026/

FOMC Decision on Interest Rates

            at 2:00 PM EDT Yesterday

As expected, the FOMC increased its Fed Fund Rate by 0.25% to 3.75%-4.00% at 2:00 PM EDT. The decision was unanimous. Market responses were as follows:

The U.S. Dollar moved sharply higher. Conversely, the Canadian Dollar moved sharply lower.

S&P 500 Index, Dow Jones Industrial Average and NASDAQ 100 units (QQQ) moved sharply lower, but recovered slightly near the close.

U.S. money center bank iShares (KBE) plunged, but recovered near the close.

Gold bullion iShares (GLD) and gold equity ETFs ( eg. GDX) plunged, but recovered near the close.

Technical Notes

American Express (AXP) a Dow Jones Industrial Average stock moved below $318.20 setting an intermediate downtrend.

Federal Express (FDX) an S&P 100 stock moved below $301.82 completing a double top pattern.

Old Dominion Freight Line (ODFL) a NASDAQ 100 stock moved below $175.55 extending an intermediate downtrend.

JB Hunt Transport (JBHT) a NASDAQ 100 stock moved below $254.10 extending an intermediate downtrend. The company pre-announced lower than consensus third quarter results.

Trader’s Corner

Equity Indices and Related ETFs

Commodities

Sectors

Links offered by valued providers

The S&P 500 Is One Down Day Away From Trouble | CHART THIS: Dave Keller

The S&P 500 Is One Down Day Away From Trouble | CHART THIS – YouTube

S&P 500 Momentum Barometers

The intermediate term Barometer dropped 3.00 to 32.40. It remained Oversold. Daily downward trend was extended.

The short term (20 day) Barometer dropped 4.40 to 19.80. It remained Oversold.

The long term Barometer dropped 3.20 to 53.00. It remained Neutral. Daily downtrend was extended.

TSX Momentum Barometers

The intermediate term Barometer dropped 2.30 to 40.55. It remained Neutral. Daily downtrend was extended.

The short term (20 days) Barometer dropped 2.76 to 23.98. It remained Oversold.

The long term Barometer dropped another 0.92 to 52.07. It remained Neutral. Daily downtrend was extended.

Disclaimer: Seasonality ratings and technical ratings offered in this report and at

www.equityclock.com are for information only. They should not be considered as advice to purchase or to sell mentioned securities. Data offered in this report is believed to be accurate, but is not guaranteed.

More from the network: Stock Market Outlook for October 19, 2026 Stock Market Outlook for October 16, 2026 Stock Market Outlook for October 15, 2026 Stock Market Outlook for October 14, 2026 Stock Market Outlook for October 13, 2026