Stock futures are little changed to kick off final session of a strong month and quarter: Live updates
U.S. stock futures were flat to kick off the final trading session of September after the major averages rose to their third consecutive week of gains.
Futures tied to the Dow Jones Industrial Average traded near the flatline. S&P 500 futures were flat, and Nasdaq 100 futures inched down 0.14%.
The 30-stock Dow rose 0.3% on Friday to finish at a new all-time high and end the week around 0.6% higher. The S&P 500 also gained about 0.6%, while the Nasdaq Composite climbed almost 1% during the week.
Wall Street is on track to end September on a positive note. Month to date, the Dow and the broad market index are up 1.8% and 1.6%, respectively. The tech-heavy Nasdaq has advanced 2.3% in September. Markets had a rough start to what is historically the weakest month for the stock market, but rebounded as September went on with the Federal Reserve cutting interest rates by a super-sized half point.
The S&P 500 is up 5.1% on the quarter, stretching its year-to-date gain to more than 20%. However, October has a troubling history as well for markets, known as a time of extreme volatility with some of the more notable Wall Street drawdowns occurring during the month.
To end last week, August's personal consumption expenditures price index came in at just 2.2%, the lowest since February 2021, making investors more confident on further rate cuts from the Fed. Additionally, initial jobless claims numbers released last week fell less than expected, signaling strength in the labor market.
The encouraging economic data "reinforces the core beliefs that prices are stabilizing, the consumer is healthy enough, companies are poised to take advantage of lower rates, and the economy keeps chugging along," said Scott Helfstein, head of investment