Updated 2 min read
US stocks moved mostly higher on Monday as investors set their sights on inflation data later this week to provide a reality check on the chances of a jumbo interest-rate cut in September.
The S&P 500 (^GSPC) moved up around 0.2%, while the Nasdaq Composite (^IXIC) was on pace to close at the record high. The tech-heavy index rose 0.5% to hit an intraday high of 21,800. Meanwhile, the Dow Jones Industrial Average (^DJI) wavered around the flatline. The moves come after stocks finished last week on a down note.
Wall Street is already looking ahead to key inflation reports later this week: the producer price index (PPI) on Wednesday and the consumer price index (CPI) on Thursday. Together, the data will offer fresh insight into the strength of the economy after last week’s weak August jobs print and other soft labor market data, as questions about recession start to emerge.
The reports will test markets’ total conviction that the Federal Reserve will lower interest rates at its meeting next week. The debate now centers on how deep policymakers will cut, amid rising expectations for a bumper “catch-up” move of 50 basis points, rather than 25 basis points.
Otherwise, this week’s economic calendar is light, though the Bureau of Labor Statistics revision to earlier months’ jobs data on Tuesday will likely be more closely watched than usual.
Read more: The latest on Trump’s tariffs
Meanwhile, as President Trump’s tariffs shake up the global trade environment, Treasury Secretary Scott Bessent said the US would be forced to give rebates if the Supreme Court fails to uphold many of those tariffs. An appeals court found most of them to be illegal and the president had overstepped his authority.
With earnings season all but over, the week ahead brings few reports, with Oracle (ORCL), Adobe (ADBE), and Kroger (KR) being the highlights.
LIVE 18 updates
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Bessent turns up heat on Fed as Trump reveals top 3 picks to replace Powell
Yahoo Finance’s Jennifer Schonberger reports:
Read more here.
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Bullish rated marketperform at Bernstein , ‘a strong US debut will make us more bullish’
Bernstein analysts initiated Bullish (BLSH) with a marketperform rating, noting they will be more excited about the stock once the institutional crypto trading platform expands into the US market.
“We expect BLSH to be the second-largest institutional exchange after Coinbase. This would require BLSH to successfully launch its U.S. business in 2026,” Bernstein’s Gautam Chhugani and his team wrote in a note on Sunday evening.
“We expect a successful U.S. business debut to be the north star for BLSH to create shareholder value,” they added.
The firm set a price target of $60 per share, roughly a 20% premium to Monday’s trading level near $50. Bernstein forecasts Bullish will capture about 8% of US spot institutional crypto volumes by the end of 2027, while maintaining around 7% global market share.
Bullish went public in August during a blockbuster debut, as the stock doubled from its IPO price of $37 per
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Stocks tick higher as markets widely bet on September rate cut
Stocks ticked higher midday as investors continued to bet on a rate cut from the Federal Reserve later this month.
The Nasdaq Composite (^IXIC) rose 0.7% while the S&P 500 (^GSPC) increased nearly 0.3%. Meanwhile, the Dow Jones Industrial Average (^DJI) was flat.
Weak jobs data has markets widely expecting interest rates to come down, given the Fed’s dual mandate of full employment and price stability. Investors will next turn their attention to inflation data set for release Thursday as a test of that thesis.
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Americans’ confidence in finding a new job after losing one just hit a record low
Americans’ confidence in finding a new job after losing one just hit its lowest level in more than a decade, according to a New York Fed survey published Monday.
The metric fell 5.8 percentage points to 44.9% in August, the lowest reading since the start of the survey in June 2013. Additionally, mean expectations that the US unemployment rate will be higher one year from now ticked up nearly 2 percentage points to 39.1%.
The data underscores how workers are feeling the effects of a dramatic slowdown in the labor market. The August jobs report released last week by the Bureau of Labor Statistics (BLS) showed that just 22,000 new jobs were added to the economy last month, far fewer than economists had forecast. Meanwhile, revised figures indicated that over the past three months, the US economy has created fewer than 30,000 new jobs, on average.
The job market’s cooling has pushed up investors’ rate cut expectations ahead of the Federal Reserve’s September meeting next week. Investors are now placing 100% probability on an interest rate reduction this month, according to CME’s FedWatch tool.
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QuantumScape jumps after VW, Ducati demo of battery tech
QuantumScape (QS) stock jumped more than 22% early Monday after a live demonstration of its solid-state lithium-metal batteries powering an electric Ducati motorcycle.
The demo, carried out with Volkswagen’s (VOW3.DE) battery company PowerCo, was the first for the tech.
Last year, QuantumScape unveiled a deal Volkswagen for the automaker to use its battery designs in its EVs. “Today we’ve crossed the threshold from possibility to reality,” its CEO Siva Sivaram said in the company statement.
Volkswagen shares traded up 1.2% Monday.
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ASML stock edges up after Mistral AI investment
US-listed shares of ASML (ASML) edged up 1.5% Monday after the Dutch company became Mistral AI’s top shareholder.
ASML, which builds machines for making chips, is crucial to the production of AI leader Nvidia’s GPUs.
Reuters reported Sunday that ASML was committing €1.3 billion, or $1.5 billion, to Mistral as part of its latest €1.7 billion funding round.
The French AI chatbot maker is valued at $14 billion, per Bloomberg, making it Europe’s most valuable AI company. Europe has focused on investing in homegrown AI in a push to become technologically independent, and the European Commission in April unveiled a plan to invest €200 billion in AI development.
ASML shares are up roughly 14% for the year.
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PNC to buy Colorado bank for $4.1 billion as part of coast-to-coast push
Yahoo Finance’s David Hollerith reports:
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Nvidia leads Mag 7, Broadcom continues upswing
A chipmaker Nvidia (NVDA) led the “Magnificent Seven” Big Tech stocks higher on Monday amid broader gains in the sector, while shares in rival Broadcom (AVGO) continued their upswing.
Nvidia jumped more than 2%. Meta (META) gained 1.6%, while Google parent Alphabet (GOOG) and Microsoft (MSFT) each climbed roughly 1%. The Technology Sector (XLK) gained 0.9%, leading the S&P 500.
Broadcom’s gain built on its rise last week, when shares in the chipmaker soared after its earnings report secured its spot as a “leading alternative” to Nvidia. Broadcom’s market cap was more than $1.6 trillion on Monday morning, ahead of Tesla’s roughly $1.1 trillion.
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Nasdaq, S&P 500 push higher at the open
US stocks edged mostly higher at the open on Monday following a downbeat trading session Friday.
Tech led the gains in stocks, with the Nasdaq Composite (^IXIC) trading roughly 0.5% higher, while the S&P 500 (^GSPC) moved up nearly 0.2%.
Meanwhile, the Dow Jones Industrial Average (^DJI) fell 0.1%.
After weak labor data prompted worries over cracks in the US economy, investors are now focused on inflation data due later this week. The wholesale and consumer inflation reports will provide a reality check on the chances of a jumbo interest-rate cut in September.
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Robinhood set to join S&P 500, stock surges
As my colleague Jenny McCall noted earlier this morning, Robinhood (HOOD) shares were on the rise in Monday premarket trading.
Jake Conley reports further details on the stock’s move:
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US raid on Hyundai plant leaves Korean companies reeling
Bloomberg reports:
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EchoStar stock soars after $17 billion spectrum sale to Musk’s SpaceX
Elon Musk-led SpaceX (SPAX.PVT) has agreed to buy EchoStar (SATS) wireless spectrum licences for its Starlink satellite network, the companies said on Monday.
Shares of DISH parent EchoStar rocketed over 20% higher in premarket trading, amid hopes the deal would put to rest FCC concerns about its 5G expansion.
Reuters reports:
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StanChart expects Fed to cut rates by 50 bps next week
Standard Chartered has doubled its earlier projection for a 25 basis point reduction in interest rates next week, following a soft August jobs report.
The brokerage now expects the Federal Reserve to lower rates by a bumper 50 basis points, or a half percentage point, from its current level of 4.5%.
Reuters reports:
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Good morning. Here’s what’s happening today.
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Premarket trending tickers: Robinhood, Tesla and Strategy
Here’s a look at some of the top stocks trending in premarket trading:
Robinhood (HOOD) stock rose 7% before the bell on Monday following news that it will replace casino operator Caesars Entertainment in the benchmark S&P 500 (^GSPC), marking a pivotal moment for the financial technology sector as the retail trading platform joins the ranks of the most influential US.
Tesla (TSLA) stock rose more than 1% in premarket following the news that Tesla’s board asked investors to approve a new pay package for Musk that could be worth as much as $1 trillion over the next 10 years. News also broke on Monday that Tesla’s US market share had dropped to its lowest level since 2017.
Strategy (MSTR) stock fell 1% after the price of bitcoin (BTC-USD) slipped to around $111,500 from above $113,000 at one point on Friday. The company is one of the largest corporate holders of bitcoin.
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Inflation in focus as Sept. Fed meeting nears: What to watch this week
With the August jobs report in the rear-view mirror, this week brings readings on wholesale and consumer inflation for the month — both crucial to the Federal Reserve’s decision making.
Yahoo Finance’s Jake Conley and Myles Udland report:
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Asian shares push up following news of Japan’s PM stepping down
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Gold hovers near all-time record as Fed rate cut expectations rise
Gold (GC=F) pushed back to near record highs as a weak August jobs report, coupled with expectations of a Federal Reserve rate cut, drew investors toward the precious metal.
Bloomberg reports:
