U.S. stock futures were rising early Monday after the three major indexes ended last week in the red amid growing worries about a potential AI-driven market bubble. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.60%, 0.46%, and 0.34%, respectively, at 4:42 a.m. EST on September 29.
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During Friday’s regular trading session, all three major indexes closed higher, snapping a three-day losing streak. August’s Personal Consumption Expenditures (PCE) report matched forecasts, showing a 0.3% month-over-month increase and a 2.7% year-over-year gain. Additionally, the Bureau of Economic Analysis reported that consumer spending climbed 0.6% in August, outpacing expectations for a 0.5% gain. The S&P 500, the Nasdaq Composite, and the Dow Jones ended the session up 0.59%, 0.44%, and 0.65%, respectively.
Importantly, U.S. President Donald Trump is set to meet with top Democrats and Republicans in Congress today to try to agree on a deal for government funding and avoid a potential shutdown.
Looking ahead, investors will turn their attention to Friday’s release of September’s Nonfarm Payrolls and Unemployment Rate reports. These updates will shed light on job growth trends and the state of the labor market.
Furthermore, key economic reports on Pending Home Sales, S&P/Case-Shiller Home Price Index, JOLTs (Job Openings and Labor Turnover Survey) Job Openings report, ADP Employment Change data, and Initial Weekly Jobless Claims data will be released during the week.
With most second-quarter earnings reports already published, several notable companies are still set to report this week. The companies in focus are Jefferies (JEF), Carnival (CCL), Nike (NKE), and Conagra Brands (CAG).
Meanwhile, the U.S. 10-year Treasury yield was down, floating near 4.14%. WTI crude oil futures were trending lower, hovering near $64.91 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $3,836 per ounce on Monday.
Elsewhere, European stocks opened higher on September 29, boosted by gains in the healthcare and technology sectors. Investors are also awaiting Eurozone economic sentiment data and remarks from European Central Bank (ECB) officials for clues on future policy decisions.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded mostly higher on Monday as investors digested the latest tariff developments.
Hong Kong’s Hang Seng index advanced 1.89%. In China, the Shanghai Composite gained 0.90%, while the Shenzhen Component climbed 1.71%. Meanwhile, Japan’s Nikkei dropped 0.69%, and the Topix declined 1.74%.
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