Wall Street focus shifts to data and investor events after Fed rate hike

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Wall Street focus after Fed hike

Highlights

Traders await Thursday's weekly jobless claims and August housing starts, with forecasts at 207,000 claims and 1.3 million starts, respectively.
Take-Two Interactive holds its annual shareholder meeting as shares trade at $211.81, down 17% in 2026 and 20% below the July 7 high of $265.94.
Software sector volatility persists with HubSpot down 41% and Intuit nearly 52% in 2026, while the iShares Expanded Tech-Software ETF is down 0.69% year-to-date but up 12% in two months.

Thursday catalysts for market trading

As reported by CNBC, traders are watching Thursday's economic calendar for signals on whether the Fed's move is likely to deepen pressure on equities or shift sentiment in the next session.

Weekly jobless claims are due at 8:30 a.m., with a Dow Jones consensus estimate of 207,000 initial claims. Kalshi data cited in the coverage shows most participants in that market expect the figure to come in above 200,000, while a smaller share sees claims topping 210,000.

Housing starts for August are also due at 8:30 a.m. Forecasts point to a 1.3 million reading, which would mark a 4.9% increase from the previous month and offer another snapshot of how the housing market is holding up as rates rise.

Company events put gaming and software in focus

Take-Two Interactive is holding its virtual annual shareholder meeting on Thursday, putting attention on the video-game publisher as investors look for any update tied to operations or release timing. The company, owner of Rockstar Games, has Grand Theft Auto VI scheduled for release on Nov. 19, while its shares are down 17% in 2026, 14.5% over the last 12 months and 20% below their July 7 high of $265.94.

The stock's longer-term run remains significant. Grand Theft Auto V was released on Sept. 17, 2013, when Take-Two traded at about $17 a share, compared with Wednesday's close at $211.81.

Software names are also drawing attention as HubSpot and Intuit host investor days. HubSpot is down 41% in 2026 but up 29% over the last three months, while Intuit is down nearly 52% this year and has risen 13% over the same three-month period.

The broader software space has also been volatile. The iShares Expanded Tech-Software Sector ETF is down 0.69% this year but has gained 12% in the last two months, with recent strength from Atlassian, Docusign and Salesforce, while TeraWulf, Core Scientific and AppLovin rank among the weaker performers over the past three months.

In our earlier article on Salesforce at its Dreamforce conference, we covered the debate over how the market is valuing the company’s AI execution after it introduced new AI products, including AIForce and Koa. We also noted how broader sentiment was being shaped by expectations for Fed policy, alongside sector-specific moves tied to fuel costs in transport stocks and developments in semiconductors involving Intel.

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