Wall St mixed ahead of data-loaded week; Powell's comments awaited
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.
CVS gains after report Glenview to meet with executives
Ford, GM slide after peer Stellantis trims annual forecast
Indexes: Dow down 0.54%, S&P 500 off 0.08%, Nasdaq up 0.25%
Updated at 9:47 a.m. ET/1347 GMT
By Johann M Cherian and Purvi Agarwal
Sept 30 (Reuters) - Wall Street's main indexes were mixed onMonday as investors paused after a rally in the previous week and exercised cautionahead of numerous job reports and comments through the week from Federal Reserve policymakers, including Chair Jerome Powell.
At 9:47 a.m. the Dow Jones Industrial Average .DJI fell 226.69 points, or 0.54%, to 42,086.31, the S&P 500 .SPX lost 4.52 points, or 0.08%, to 5,733.65 and the Nasdaq Composite .IXIC gained 44.41 points, or 0.25%, to 18,164.00.
Eight of the 11 S&P 500 sectors were lower. Materials .SPLRCM was at the bottom with a 0.8% decline after logging its best week since early December on Friday.
The Dow .DJI closed at a record high on Friday, and the S&P 500 .SPX hovered near its own milestone. Both indexes are set for their fifth straight month of gains, defying a historical trend where September has been a weak month for equities on average.
The three main indexes are set for a quarterly rise, after the Fed kicked off its policy easing nearly two weeks ago, fuelling gains on Wall Street.
Recent data has supported the trend ofmoderating price pressures and an overall resilient economy,granting the Fed enoughroom to support the labor market and avoid a recession by reducing borrowing costs further.
Economists say that a mistake in setting interest rates during the last phase of the Fed's inflationbattle could be risky for the economy over the next year as markets await comments from chair Powell at a conference on Monday at 1:55 p.m. ET.
August's job openings report and September's pivotal payrolls figure, along with final business activity estimates are on the radar this week that could offer clues on the outlook for the economy and rate cuts.
"If we start to see a greater-than-expected slowdown in the jobs market, the forecast for the November Fed meeting could show a greater likelihood of a 50 bps cut," said Sam Stovall, chief investment strategist at CFRA Research.
Traders are now pricing in 62.9% chances of a 25 bps reduction, as per the CME Group's FedWatch Tool. Those for a bigger 50 basis points cut stand at 37.1%, down from 53% last week.
CVS Health CVS.N rose 3.3% aftera report showed hedge fund Glenview Capital Management will meet top executives at the struggling healthcare company.
Automakers Ford F.N dropped 2.2% andGeneral Motors GM.N lost 3% after European peer Stellantis NV STLAM.MI slashed its annual forecasts.
U.S.-listed shares of Alibaba BABA.K rose 3.5%, Li Auto jumped 6% LI.O and PDD PDD.O climbed 3.3% afterChina's central bank, in its latest stimulus move, said it would tell banks to lower mortgage rates for existing home loans.
Freeport-MacMoRan FCX.N dipped 2.2% after a rating downgrade from Scotiabank, weighing on the materials sector.
Markets also kept an eye on aworker union's port strike on the East Coast and the Gulf of Mexico that could cause delays and snarl supply chains.
Declining issues outnumbered advancers by a 1.45-to-1 ratio on the NYSE and by a 1.23-to-1 ratio on the Nasdaq.
The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 36 new highs and 29 new lows.
S&P 500 sectors https://tmsnrt.rs/47KJpaQ
Reporting by Johann M Cherian and Purvi Agarwal in Bengaluru; Editing by Maju Samuel
Asset collegati
Ultime news
Disclaimer: le entità di XM Group forniscono servizi di sola esecuzione e accesso al nostro servizio di trading online, che permette all'individuo di visualizzare e/o utilizzare i contenuti disponibili sul sito o attraverso di esso; non ha il proposito di modificare o espandere le proprie funzioni, né le modifica o espande. L'accesso e l'utilizzo sono sempre soggetti a: (i) Termini e condizioni; (ii) Avvertenza sui rischi e (iii) Disclaimer completo. Tali contenuti sono perciò forniti a scopo puramente informativo. Nello specifico, ti preghiamo di considerare che i contenuti del nostro servizio di trading online non rappresentano un sollecito né un'offerta ad operare sui mercati finanziari. Il trading su qualsiasi mercato finanziario comporta un notevole livello di rischio per il tuo capitale.
Tutto il materiale pubblicato sul nostro servizio di trading online è unicamente a scopo educativo e informativo, e non contiene (e non dovrebbe essere considerato come contenente) consigli e raccomandazioni di carattere finanziario, di trading o fiscale, né informazioni riguardanti i nostri prezzi di trading, offerte o solleciti riguardanti transazioni che possano coinvolgere strumenti finanziari, oppure promozioni finanziarie da te non richieste.
Tutti i contenuti di terze parti, oltre ai contenuti offerti da XM, siano essi opinioni, news, ricerca, analisi, prezzi, altre informazioni o link a siti di terzi presenti su questo sito, sono forniti "così com'è", e vanno considerati come commenti generali sui mercati; per questo motivo, non possono essere visti come consigli di investimento. Dato che tutti i contenuti sono intesi come ricerche di investimento, devi considerare e accettare che non sono stati preparati né creati seguendo i requisiti normativi pensati per promuovere l'indipendenza delle ricerche di investimento; per questo motivo, questi contenuti devono essere considerati come comunicazioni di marketing in base alle leggi e normative vigenti. Assicurati di avere letto e compreso pienamente la nostra Notifica sulla ricerca di investimento non indipendente e la nostra Informativa sul rischio riguardante le informazioni sopra citate; tali documenti sono consultabili qui.
