U.S. stock futures were slightly lower at the start of the final trading session in September after major indexes posted gains for a third straight week.
Dow Jones Industrial Average futures lost 43 points. S&P 500 futures fell about 0.16% and Nasdaq Composite futures fell about 0.2%.
US stock performance last week
The Dow Jones Industrial Average rose 138 points, or 0.3%, at the close of trading on Friday, September 27, to 42,313.00 points. The S&P 500 index closed down about 0.13% to 5,738.17 points. The Nasdaq Composite index fell about 65.66 points, or 0.39%, to 18,119.59 points.
During the week's trading ending at the end of Friday's session, the Dow Jones Industrial Average rose by 0.59%, the S&P 500 gained 0.62% for the week, and the Nasdaq Composite gained 0.95% for the week.
An unexpected end to September
Wall Street is on track to end September on a positive note. So far, the Dow Jones Industrial Average is up 1.8% and the broader market is up 1.6%. The tech-heavy Nasdaq is up 2.3%.
Markets started September on a slump in what is historically the weakest month for the stock market, but recovered as the month progressed, after the Federal Reserve unexpectedly cut interest rates by a half-point.
The S&P 500 rose 5.1% during the quarter, extending its year-to-date gain to more than 20%. However, October also has a troubling history for markets, known for being a period of extreme volatility with some notable declines on Wall Street during the month.
By the end of last week, the personal consumption expenditures price index for August recorded 2.2%, the lowest since February 2021, which increased investors' confidence in additional interest rate cuts by the Federal Reserve.
Additionally, initial jobless claims figures released last week showed a smaller-than-expected decline, indicating strength in the labor market.
