Traders work on the floor of the New York Stock Exchange.
new york stock exchange
U.S. stock futures opened the final session of September flat after a third consecutive week of gains in major averages.
futures The Dow Jones Industrial Average was trading near the flatline. S&P500 futures Add only 0.04%, Nasdaq 100 futures It increased by 0.08%.
On Friday, the 30-stock Dow Jones Industrial Average (30 stocks) rose 0.3% to a new all-time high and ended the week up about 0.6%. The S&P 500 also rose about 0.6%, and the Nasdaq Composite Index rose nearly 1% for the week.
Wall Street is showing good performance heading into the end of September. Month-to-date, the Dow and Composite Market Index are up 1.8% and 1.6%, respectively. The tech-heavy Nasdaq rose 2.3% in September. The market got off to a tough start in the weakest month on record for stocks, but bounced back as September progressed as the Federal Reserve cut interest rates by a massive 0.5 percentage point.
S&P500, 1 month
The S&P 500 index rose 5.1% sequentially, extending its year-to-date gain to more than 20%. But October also has a troubling history for the market, known as a period of extreme volatility, with some of Wall Street’s most notable drawdowns occurring during this month.
As of the end of last week, the personal consumption expenditure price index in August was just 2.2%, the lowest since February 2021, increasing investors’ confidence that the Fed will cut rates further. Additionally, the number of new jobless claims reported last week fell less than expected, showing strength in the labor market.
Scott Helfstein, head of investment strategy at Global This confirms the basic idea that the situation is changing.” “Despite the geopolitical noise, risk assets are expected to continue advancing against this backdrop.”
The market will be put to a big test later in the week with the September jobs report released on Friday. On the earnings side, Carnival is scheduled to release its quarterly results on Monday morning.
