LeoPatrizi
Traders will get some time off from the stock market on Labor Day following a big rebound for equities in August. At the latest Jackson Hole, Fed Chair Jerome Powell confirmed that it was time to adjust monetary policy, while U.S. Q2 GDP growth was revised up last week on better consumer spending and price pressures have continued to moderate.
That’s seen stock market indexes head back to all-time highs, with the Dow Jones Industrial Average (DJI) notching its 26th record close of the year on Friday. There are some fears that things could look different in September, which Wall Street lore deems as the most bearish month, but it may be best not to read too many tea leaves.
While the New York Stock Exchange and Nasdaq are closed on Monday, stock futures are active. At the time of writing, contracts linked to the Dow (INDU) and S&P 500 (SPX) are down 0.3%, respectively, while contracts linked to the Nasdaq 100 (US100:IND) are 0.5% lower in overnight action.
U.S. commodities markets, including gold and WTI crude futures, as well as the bond market, won’t be open for trading on Monday, but those wanting in on some action could dip into the crypto trade, which never sleeps – not even nights or weekends.
