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
Mga Kaugnay na Asset
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
