Good morning, traders. Happy Tuesday. The market is pulling back after a holiday weekend, after the month of August ended Friday with all indexes in the positive. From near all time highs Semiconductor stocks are leading stocks lower.

Just past 10:26 am ET the    $S&P 500 Index (.SPX.US)$ traded -1.17%, the       $Dow Jones Industrial Average (.DJI.US)$ fell 1.04%, and the    $Nasdaq Composite Index (.IXIC.US)$ fell 1.54%.

In macroeconomics this week, investors are awaiting initial and continuing jobless claims figures from the Department of Labor Statistics Thursday, and the Unemployment rate and nonfarm payrolls from the Bureau of Labor Statistics Friday. The market is watching for signs of labor softness that could hurt stock prices, but help the chances of an FOMC rate cut during the committee's upcoming September 17-18 meeting.

Tuesday, both the S&P PMI and ISM PMI index numbers came out lower than estimated, with ISM at 47.2 vs 47.5 and S&P at 47.9 vs 48, compared to last months 46.8 and 49.6 respectively.

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Yesterday, users were screaming and yelling about the election: things are heating up. When not arguing about which candidate is worse, users watched Oil demand and tech companies like fan favorite $NVIDIA (NVDA.US)$.

Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!

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