U.S. stock futures traded near the flatline on Monday morning, ahead of the final trading session of September. Futures on the S&P 500 (SPX), the Dow Jones Industrial Average (DJIA), and the Nasdaq 100 (NDX) were down by about 0.06%, 0.09%, and 0.11%, respectively, at 4:23 a.m. EST, September 30.
So far this month, the Dow Jones has risen 1.8%. Meanwhile, the S&P 500 has gained 1.59%, and the tech-heavy Nasdaq Composite has climbed 2.29%. This positive momentum is largely attributed to the Federal Reserve’s aggressive 50 basis point rate cut, which boosted investor sentiment.
Turning to this week’s key economic reports, the Manufacturing Purchasing Managers’ Index (PMI) report for September is due for release on Tuesday. Additionally, investors await the release of the Services PMI data on Thursday. Furthermore, September’s Nonfarm Payrolls and Unemployment Rate will be released on Friday.
On the earnings front, Nike (NKE), Lamb Weston (LW), Conagra Brands (CAG), Levi Strauss (LEVI), and Constellation Brands (STZ) will announce results this week. Further, Carnival (CCL) is scheduled to release its quarterly report today.
Meanwhile, the U.S. 10-year treasury yield was up at the time of writing, floating near 3.7%. At the same time, WTI crude oil futures trended higher, hovering near $68.61 per barrel as of the last check.
Elsewhere, European markets opened lower today as investors looked forward to key inflation data from the region.
Asia Pacific Markets Traded Mixed on Monday
Asia-Pacific indices experienced a mixed performance on Monday. This divergence reflects contrasting economic data from China and Japan.
The positive surprise in China’s PMI boosted investor sentiment, leading to a rally in Chinese stocks. On the other hand, the disappointing industrial production data from Japan dampened investor confidence, causing the Nikkei 225 index to decline sharply.
Hong Kong’s Hang Seng index closed higher by 2.43%. At the same time, China’s Shanghai Composite and Shenzhen Component indices gained 8.06% and 10.67%, respectively. However, Japan’s Nikkei 225 and Topix indices finished lower by 4.8% and 3.47%, respectively.
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