Coffee With Greta: Short Week

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DJIA Futures: +21 (+0.1%)

SPX Futures: -4 (-0.1%)

NASDAQ Futures: -32 (-0.2%)

Good morning friends!

Futures are mostly lower as traders begin the holiday-shortened week. 

Let’s get right to it!

September Begins

The major indices are coming off a strong week as new data showed the economy slowing. 

The Dow rose 1.4% last week while the Nasdaq was up 3.3%, their best weekly performances since July.

The S&P 500 rose 2.5%, its best week since June. 

But September is historically the weakest month for stocks and will include some key data ahead of the Fed’s next rate decision on September 20. 

CME Group’s FedWatch Tool currently shows 93% of traders expecting no rate hike at that meeting. 

Airbnb, Blackstone To Join S&P 500

Airbnb (ABNB) shares are rallying 5.8% ahead of the open while Blackstone (BX) shares are up 3.7% after S&P Dow Jones Indices announced the two companies will join the S&P 500. 

Airbnb will replace Lincoln National Corp (LNC) and Blackstone will replace Newell Brands Inc (NWL).

The change is expected to take place later this month. 

Lincoln National and Newell will both be moved to the S&P SmallCap 600, replacing UNIQURE N.V. (QURE) and Universal Insurance Holdings (UVE) respectively.

NextGen Healthcare Jumps

NextGen Healthcare Inc (NXGN) shares are up 8.0% in premarket trade following a Bloomberg report a private equity firm is in talks to buy the company. 

Sources say Thoma Bravo could reportedly announce a deal for the health records software company as soon as this week. 

The talks are still ongoing and both companies did not respond to requests for comment. 

NextGen has a market cap of about $1.3 billion as of Friday’s close.