Shares wrapped up September in type, with the Dow and S&P 500 scoring file closes to finish the month. All three main benchmarks bucked seasonal headwinds to complete September within the black for the primary time since 2019. The blue-chip index and S&P 500 have now rattled off five-straight month-to-month wins. The three indexes additionally nabbed quarterly beneficial properties, and for the Nasdaq and S&P 500, it was their fourth constructive quarter in a row.
Remarks from Federal Reserve Chairman Jerome Powell, who teased the opportunity of additional interest rate cuts ought to the economic system proceed to satisfy the central financial institution’s expectations, lifted shares into constructive territory this afternoon. Regardless of settling decrease for the session, the Cboe Volatility Index (VIX) rose for the month and quarter.
Proceed studying for extra on right this moment’s market, together with:
- 25 best stocks on your October portfolio.
- Checking again in with 3 big meme socks.
- Plus, CMG is a no-go subsequent month; DIS upgraded; and why this auto inventory tumbled.
5 Issues to Know Right now
- The Worldwide Longshoremen’s Affiliation (ILA) mentioned its wage calls for had been nonetheless not being met and blamed ports administration for the imminent strike. (CNBC)
- The demise toll for Hurricane Helene rose to nearly 100, as authorities rush water and different provides to storm-stricken areas throughout the U.S. Southeast. (Reuters)
- Keep away from Chipotle Mexican Grill stock in October.
- Walt Disney inventory upgraded on macro outlook.
- Auto stock crashes on slashed revenue forecast.
Oil Costs Log Losses Throughout the Board
Oil costs settled modestly decrease on Monday, after an Israel strike on Beirut killed Hezbollah’s chief. November-dated West Texas Intermediate (WTI) crude fell 1 penny to settle at $68.17 per barrel for the day. Black gold misplaced 7.3% and 16.4% for the quarter, respectively.
Gold costs settled decrease, taking a breather from a rally pushed by rate of interest cuts in addition to battle within the Center East. Gold for December supply was final seen down 0.7% at $2,649.20. The safe-haven metallic additionally rose 13% for the quarter — its greatest since 2020.
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
