U.S. stock futures edge higher after S&P 500 posts 0.45% September loss

  • U.S. stock futures pointed higher after major indexes ended September with mixed performance.
  • The 10-year Treasury yield rose four basis points to 5.298% on Sept. 30.
  • About 75% of S&P 500 stocks declined during September, despite gains in several technology shares.

U.S. stock futures were little changed after the S&P 500 fell 0.25% on Sept. 30, ending September down 0.45%. Futures indicated gains of 0.25% for the S&P 500, 0.17% for the Dow Jones Industrial Average and 0.29% for the Nasdaq Composite. The Dow finished September 4% lower, while the technology-heavy Nasdaq gained 1%. Markets surrendered early advances after U.S. data showed inflation slowing in August, but the improvement did not offset rising Treasury yields. The 10-year Treasury yield climbed four basis points to 5.298%, its highest level since 2007, while the 30-year Treasury yield also rose four basis points to 5.632%, its highest since 2002. The Federal Reserve's preferred inflation measure, the personal consumption expenditures (PCE) index (a gauge of consumer-price growth), rose 3.4% year over year in August, down from 3.7% in July and below economists' expectation that it would remain at 3.7%. Core PCE, excluding food and energy, increased 3%, compared with 3.3% in July. About 75% of S&P 500 stocks declined during September, although gains in artificial-intelligence-related shares including Apple, Nvidia and Microsoft concealed broader weakness. Microsoft has a consensus Strong Buy rating from 37 Wall Street analysts, based on 35 Buy, one Hold and one Sell recommendation issued over the past three months. The average price target of $558.86 implies 40% upside from current levels. Trending-stock data was sourced from TipRanks.

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U.S. stock futures edge higher after S&P 500 posts 0.45% September loss - CoinPost Terminal