Opening Comment — Tuesday, September 29, 2026
DJIA: 51,481.51, down 347.11
S&P 500: 7,683.69, down 59.72
NASDAQ: 26,820.38, down 248.34
Stocks higher before job openings data
Stock futures are higher Tuesday morning ahead of today’s economic releases, including September consumer confidence data and the August Job Openings and Labor Turnover Survey (JOLTS). In addition, investors will monitor remarks from several Federal Reserve (Fed) officials throughout the day for further insight into the central bank’s policy outlook. As of 7:16 AM ET, the Dow and the S&P 500 Index are both rising 0.1%. The Nasdaq 100 is increasing 0.2% relative to fair value on the GLOBEX.
U.S. equities were lower on Monday as yields continued rising following President Donald Trump firmly rejecting Iran's renewed proposal to reopen the strategically vital Strait of Hormuz. Meanwhile, the Dallas Fed’s reading of Texas-area manufacturing activity fell less than expected in September. The Dow was down 0.7%, while the tech-heavy Nasdaq Composite fell 0.9%. The S&P 500 decreased 0.8% with eight of 11 sectors finishing in negative territory. The Consumer Staples sector was the top performer, rising 0.4%, while the Communication Services sector was the bottom performer, falling 1.7%.
On the data front, the Federal Housing Finance Agency’s House Price Index is expected to show an increase of 0.1% month-over-month (MOM) in July, compared to the prior month’s flat reading. The S&P Cotality Case-Shiller 20-City Composite Home Price Index for July is expected to register an increase of 0.20% MOM and 2.20% year-over-year (YOY), versus the prior month’s increase of 0.24% and 2.10%, respectively. The Conference Board’s reading of September consumer confidence is projected to come in at 89.0 versus the prior month’s 89.4. The August JOLTS is forecasted to show job openings of 7.23 million, versus the prior month’s 7.27 million. The Dallas Fed’s September Texas Service Sector Outlook Survey will also be released, with the general business activity index expected to come in at 2.3, down from the prior month’s 4.2.
Across the pond, European stocks are higher in mid-day trading as the U.K.’s mortgage approvals unexpectedly fell to 54,900 in August following the prior month’s downwardly revised reading of 55,900. Meanwhile, eurozone economic confidence weakened unexpectedly, falling to 97.9 in September.
Overnight in Asia, stocks were mostly lower as the Reserve Bank of Australia (RBA) increased its cash rate target by 25 basis points (0.25%) to 4.60%, in line with market expectations. Meanwhile, the country’s household spending came in below forecasts in August, showing little change MOM and slowing to 6.8% YOY.
In FOREX trading, the U.S. dollar is higher ahead of tomorrow’s U.S. Personal Consumption Expenditures (PCE) Deflator data, the Fed’s preferred inflation gauge.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 0.4% lower at $92.20/barrel and Brent crude oil is down 0.2% at $105.06/barrel following the reported partial resumption of flows through Saudi Arabia’s East-West pipeline.
In the metals complex, gold is 0.9% higher at $4,151.94/ounce despite a strengthening U.S. dollar.