U.S. index futures are modestly higher at the start of a new week as the rate cut euphoria fades and traders look ahead to the next key catalysts. The tech space could get a lift from a potential lifeline for struggling Intel Corp. (NASDAQ:INTC) and traders may also look ahead to Micron Corp.’s (NASDAQ:MU) earnings report due later this week. FedEx Corp.’s (NYSE:FDX) annual shareholder meeting and conference presentations by companies could also be on traders’ radar.

A few Fed speeches and private sector activity data due on Monday will also be of interest to the market, which has had an atypically strong September. China followed up with more cuts on Monday as the country strives to bring the struggling economy back on track.

In premarket trading on Monday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.15% to $569.09 and the Invesco QQQ ETF (NASDAQ:QQQ) climbed 0.27% to $483.06, according to Benzinga Pro data.

Cues From Last Week:

U.S. stocks recorded gains for the second straight week as the Fed’s 50 basis-point cut set the market on fire, although a session after the announcement. After a mixed start to the week, positive retail sales generated buying interest in the market on Tuesday. Sentiment soured on Wednesday despite the initial positive reaction to the rate cut and the major indices closed lower.

Traders reacted with a lag to the rate cut, sending averages sharply higher on Thursday. The S&P 500 Index and the Dow Jones Industrial Average scaled record highs in the session. Caution returned on Friday as the market closed the triple-witching session on a mixed note. The Dow built on its gains on Friday and ended at a new high.

“This might be a September rally to remember on Wall Street, as history is not on the side of September delivering many market rallies,” said fund manager Louis Navellier.

Insights From Analysts:

The S&P 500 Index, which closed Friday’s session, just shy of an all-time high, is now above year-end price predictions of 70% of Wall Street analysts. This has rendered S&P valuation slightly higher than the average number for the past five and past 10 years, FactSet data showed.

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Upcoming Economic Data:

A slew of Fed speeches and the core personal consumption expenditure index, which is part of the personal income and spending report, are the key data the market will likely look forward to in the unfolding week. Traders may also keep a close eye on the weekly jobless claims data, flash private sector activity readings from S&P Global, a consumer confidence reading, the August durables goods orders data and a couple of housing market readings.

On Monday, Atlanta Fed President Raphael Bostic is scheduled to speak at 8 a.m. EDT, followed by Chicago Fed President Austan Goolsbee at 10:15 a.m. EDT and Minneapolis Fed President Neel Kashkari at 1 p.m. EDT.

S&P Global will release its flash manufacturing and service sector purchasing managers’ indices for September at 9:45 a.m. EDT. Economists, on average, expect the manufacturing purchasing managers’ index to rise from 47.9 in August to 48.4 in September, suggesting the sector continued to contract. The service sector PMI is widely expected to hold steady at 55.4 compared to August’s 55.7.

The Treasury will auction three- and six-month notes at 11:30 a.m. EDT.

Stocks In Focus:

Commodities, Bonds And Global Equity Markets:

Crude oil and gold futures are modestly higher, with the latter trading near record territory. Bitcoin has gone past the $63.5K level. The 10-year Treasury note yield rose 1.1 points to 3.739%.

European stocks also showed tentativeness as domestic traders digested weak private sector activity data from the region.

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