The Market Brief
Hey team, after the much-anticipated volatility during Powell’s speech, the market entered an emotional state with some “wild swings” to close the month.
Can the momentum from yesterday’s session carry over? Let’s discuss.👇
Impact Snapshot
🟥 ISM Manufacturing PMI - 10:00am
🟥 JOLTS Job Openings - 10:00am
Macro Viewpoint
Stock futures remained relatively stable on Tuesday morning, following the S&P 500's record-breaking close to wrap up September.
Federal Reserve Chair Jerome Powell stated on Monday that the central bank has no predetermined course for future rate policy decisions.
He indicated that if the economy performs as expected, there could be two additional rate cuts this year, each by a quarter percentage point.
Although September is historically a challenging month for stocks, this year defied the trend. All three major indexes posted gains, marking the S&P 500's first positive September since 2019.
Investors are now turning their attention to Friday’s nonfarm payrolls report, which is expected to be a key driver for market movements.