Those moves come after the major averages notched their third consecutive week of gains. Markets had a rough start to what is historically the weakest month for the stock market, but rebounded as the Federal Reserve cut interest rates by a super-sized half point.
Month to date, the Dow has gathered 1.5%, and the S&P 500 is 1.6%. The tech-heavy NASDAQ has advanced 2.5% in September.
The Dow Jones Industrial Average ticked down Monday, the final trading session of what’s shaping up to be a winning month and quarter.
The blue-chip index fell 113.46 points at the outset to 42,199.54
The S&P 500 index faded 10.79 points to 5,727.38
The NASDAQ Composite retreated 44.78 points to 18,074.81.
The Dow has led the way this quarter, climbing more than 7%. The S&P 500 is ahead 5% and the NASDAQ has added 2.4%, since July began.
Nvidia is on track to notch its first losing quarter since 2022, underscoring the changing views on mega-cap technology after capturing investor attention for more than a year.
Looking ahead, October has a troubling history for markets. It’s known as a time of extreme volatility with some of the more notable Wall Street drawdowns occurring during the month.
Prices for the 10-year Treasury sagged to raise yields to 3.77% from Friday’s 3.75%. Treasury prices and yields move in opposite directions.
Oil prices dipped 34 cents at $67.84 U.S. a barrel.
Gold prices flopped $15.80 to $2,652.30 U.S. an ounce
