US stock index futures edged lower, with Nvidia leading the seven technology giants lower.

After the long weekend, Wall Street returns to trading, with the market feeling uneasy again about the high valuations of tech stocks and the tense government budget. US stock index futures are trending lower. Global bond prices are generally falling, while the price of gold briefly touches a record high. This week, several US economic data will be released, starting with the August manufacturing and services survey report from the Institute for Supply Management on Tuesday. Friday's nonfarm employment report is expected to show employment growth below 100,000 for the fourth consecutive month, the weakest performance since the outbreak of the pandemic in 2020. The current forward market indicates a 90% probability of a 25 basis point rate cut by the Federal Reserve this month, with three more rate cuts of the same magnitude expected by June next year. "The market is highly cautious about the upcoming US inflation and labor market data," said Andrea Tueni, Sales and Trading Manager at Saxo Banque France. "This means caution is reasonable."