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Stock Futures Flat After Wall Street's Winning August

3 d ago

U.S. stock futures hovered near the flatline Monday evening after a losing session, but major benchmarks still posted monthly gains, reflecting market volatility amid geopolitical tensions and September seasonality concerns. Dow Jones Industrial Average futures rose 48 points, S&P 500 futures edged up less than 0.1%, and Nasdaq-100 futures were little changed. For August, the S&P 500 advanced 2.6%, the Nasdaq Composite gained 3.9%, and the Dow climbed 1.3% for its fifth straight monthly advance. In Asia, Japan's Nikkei 225 fell 0.91%, the Topix was flat, South Korea's Kospi and Kosdaq dropped over 1%, and Australia's S&P/ASX 200 slipped 0.36%. Wall Street ended the month on a sour note, with the Dow plunging more than 370 points in regular trading as oil prices surged after the U.S. struck two rocket launchers on Iran's Larak Island, pushing rates higher. The S&P 500 and Nasdaq also declined. Goldman Sachs traders noted "nervousness across myriad of indicators," citing new AAII Sentiment Survey data and reduced portfolio risk allocations. September historically is a weak month for stocks, and a packed economic calendar may keep investors cautious. Manufacturing and services sector data are due Tuesday and Wednesday, followed by the August jobs report on Friday. Economists polled by Dow Jones expect 53,000 jobs added for the month.