S&P 500 and Nasdaq indexes slightly lower; Dow Jones marginally up ~0.1%
Euro STOXX 600 index up ~0.2%
Dollar, gold slips; Crude falls >1%; bitcoin down ~0.8%
U.S. 10-year Treasury yield falls to ~4.12%
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THE SEPTEMBER EFFECT LOOKS LIKELY TO BLOW PAST WALL STREET THIS YEAR
It is widely known that September is a bad month for stocks, but that did not stop Wall Street's eye-watering run this year as the S&P 500 .SPX is now set for its best September showing in about 15 years.
The benchmark index is up more than 3% for the month, set for its best September showing since 2010 and a more than 7% jump for the quarter.
Wall Street's main indexes have reached record highs this month as a slew of things including the Federal Reserve's interest rate cut, strong corporate earnings and unwavering AI optimism helped fuel the rally.
"In general, the consumer sentiment seems to be very strong so unlike many other Septembers that did not have a lot of positive factors, this one enjoys several," said Peter Andersen, founder of Andersen Capital Management.
One of many reasons that analysts have pointed to regarding this month's historical weakness include investors returning from summer vacation in September ready to lock in gains as well as tax losses before the end of the year.
"Seasonal headwinds didn't materialize this month, and investors may now turn their attention to the historically strong fourth quarter," Adam Turnquist, chief technical strategist at LPL Financial said in a note.
In a note dated September 2, analysis from DataTrek Research showed that since 1958, September is the only month where the S&P 500 has averaged a loss.
Media firm Warner Bros Discovery WBD.O, marketing platform AppLovin APP.O and data storage products maker Western Digital WDC.O are the top performing stocks on the S&P 500 so far this month.
On Tuesday, U.S. stocks were slightly lower as markets fretted over likely delays in the release of key economic data due to a potential U.S. government shutdown.
(Shashwat Chauhan)
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EARLIER ON LIVE MARKETS:
GOLDMAN SACHS SEES LOWER RISKS OF US RECESSION AS ECONOMY HOLDS UP CLICK HERE
TARIFFS TICKING UP CONSUMER PRICES SLOWLY VS 2018-19 EPISODE CLICK HERE
UK GDP: SIGNALS BENEATH THE SMOOTH SURFACE CLICK HERE
STOXX DIPS, FINANCIALS OUTPERFORM CLICK HERE
EUROPE BEFORE THE BELL: MUTED START AS Q3 WRAPS UP CLICK HERE
BONFIRE OF THE VANITIES CLICK HERE
eu open https://tmsnrt.rs/4nDhDEr
S&P 500 headed for best September showing since 2010 https://reut.rs/3KliAmf