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September new jobs higher than expected, is this a 'soft landing' ?
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Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly

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Kevin Travers joined discussion · Oct 1 04:38
Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly
On Monday the market swapped from an overall decline to trading flatly. Two out of three S&P 500 sectors were climbing by the close after the day started in a reversal. Over the weekend, the world was affected by a major hurricane in the American south, ground raids in Lebanon, and yet another stimulus effort for Chinese stocks.
Just past 4 pm ET the $S&P 500 Index (.SPX.US)$ climbed 42 basis points to nearly an all-time trading high, the $Dow Jones Industrial Average (.DJI.US)$ climbed 4 bps, and the $Nasdaq Composite Index (.IXIC.US)$ climbed 38 basis points.
MACRO
This week, investors can await nonfarm payrolls and the unemployment rate to check progress on the labor market. Last week, the PCE came in at 2.2%, the lowest year-over-year inflation number since 2021.
Monday afternoon, Federal Reserve Chair Jerome Powell spoke at the National Association of Business Economics. He said inflation was on its way down, and that labor should not get any weaker to make room for inflation decreases.
"If the economy evolves broadly as expected, policy will move over time to a more neutral stance," Powel said. "But we are not on any preset course, the risks ahead are two-sided, and we will continue to make our decisions meeting by meeting."
SECTORS
Within industries tracked by moomoo, Chinese stocks were again climbing at record paces after China's central bank on Sunday directed commercial banks to lower mortgage rates for existing home loans by at least 30 basis points before Oct. 31. Last week, the People's Bank of China lowered the reserve requirement ratio for banks and cut the interest rates.
Wall Street Today | Market Finished Monday Flat After Turn Around, Chinese Stocks Fly
$Alibaba (BABA.US)$, $PDD Holdings (PDD.US)$ and $JD.com (JD.US)$ were all climbing, and the $CSI 1000 Index (000852.SH)$ was climbing 11% Monday morning, up 27% in six days.
UBS analyst Zuzanna Pusz said Chinese stocks still trade at 30% price-to-book discount to emerging markets peers, with profitability only 2% lower.
MOOVERS
$Amentum Holdings (AMTM.US)$ climbed 25% Monday after the firm was added to the S&P 500 on the 24th of September. The stock was falling 10% after hours, facing heavy volatility as the highest gainer on the index.
$Stellantis NV (STLA.US)$ sank more than 12% Monday after the parent of Chrysler and other auto brands slashed its full-year adjusted operating income margin and free cash flow projections amid deteriorating global industry trends.
$EchoStar (SATS.US)$ sank more than 11% intraday Monday on word that DirecTV is buying EchoStar's video-distribution business, which includes Dish TV and Sling TV, via a debt exchange -- cementing a combination the two companies have sought for decades. $AT&T (T.US)$ has agreed to sell its 70% stake in DirecTV to its partner, private-equity firm TPG Inc., for about $7.6 billion in cash payments through 2029.
Shares of $Trump Media & Technology (DJT.US)$, the social media company majority-owned by Donald Trump, rose more than 10% intraday Monday after surviving a week in which early investors sold shares.
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Kevin Travers
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office. Fmr CNBC contributor, reporter/investor/trader Posts do not represent mm
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