Opening Comment — Monday, August 31, 2026
DJIA: 53,559.99, down 9.45
S&P 500: 7,711.76, down 19.23
NASDAQ: 26,402.42, down 138.93
Stocks lower to start off week
Stock futures are lower Monday morning as markets assess the latest strikes by the U.S. and Iran. Investors are awaiting a barrage of labor market and purchasing managers’ index (PMI) data this week, starting with tomorrow’s July Job Openings and Labor Turnover Survey (JOLTS) and the Institute for Supply Management’s August manufacturing PMI. As of 7:21 AM ET, the Dow is decreasing 0.1%, while the S&P 500 is down 0.2%. The Nasdaq 100 is falling 0.1% relative to fair value on the GLOBEX.
U.S. equities were mostly lower on Friday as investors reacted to Federal Reserve (Fed) Chair Kevin Warsh’s hawkish comments at the Fed’s Jackson Hole Economic Symposium. Meanwhile, the finalized August reading of consumer sentiment from the University of Michigan was unexpectedly revised higher to 51.7. The Dow was little changed, while the tech-heavy Nasdaq Composite fell 0.5%. The S&P 500 decreased 0.3% with six of 11 sectors finishing in negative territory. The Consumer Discretionary sector was the top performer, rising 1.7%, while the Information Technology sector was the bottom performer, falling 1.3%.
On the data front, the Dallas Fed’s Texas Manufacturing Outlook Survey for August will be released, with the general business activity index expected to come in at 1.6, up from the prior month’s 1.3.
Across the pond, European stocks are mixed in mid-day trading ahead of tomorrow’s eurozone inflation and unemployment data.
Overnight in Asia, stocks were mixed as China’s official August manufacturing PMI improved more than expected to 49.8, while the non-manufacturing PMI held steady at 49.0 defying expectations of an uptick. South Korea’s July industrial production unexpectedly rose 0.2% month-over-month (MOM). Meanwhile, Japan’s July retail sales increased more than expected, rising 2.4% MOM, while the country’s July preliminary industrial production unexpectedly rose 0.1% MOM. Australia’s Melbourne Institute inflation gauge recorded an increase of 0.5% MOM and 4.8% year-over-year in August.
In FOREX trading, the U.S. dollar is lower ahead of this week’s U.S. labor market data, headlined by Friday’s August jobs report.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 3.6% higher at $86.42/barrel.
In the metals complex, gold is little changed at $4,454.03/ounce.