Opening Comment — Monday, September 08, 2025
DJIA: 45,400.86, down 220.43
S&P 500: 6,481.50, down 20.58
NASDAQ: 21,700.39, down 7.30
Stocks higher to start off week
Stock futures are higher Monday morning ahead of today’s August inflation expectations and July’s consumer credit data. Investors will also be looking ahead to Producer Price Index (PPI) and Consumer Price Index (CPI) data out Wednesday and Thursday, respectively. As of 7:16 AM ET, the Dow is rising 0.2%, while the S&P 500 is up 0.3%. The Nasdaq 100 is increasing 0.4% relative to fair value on the GLOBEX.
U.S. equities were mostly lower on Friday as both nonfarm and manufacturing payrolls for August came in below expectations, increasing by just 22,000 and falling by 12,000, respectively. Both the unemployment rate and the labor force participation rate ticked up, rising to 4.3% and 62.3%, respectively. Average hourly earnings rose 0.3% month-over-month as expected, but the 3.7% year-over-year increase came in below forecasts. The Dow was down 0.5%, while the tech-heavy Nasdaq Composite was little changed. The S&P 500 decreased 0.3% with six of 11 sectors finishing in negative territory. The Real Estate sector was the top performer, rising 1.0%, while the Energy sector was the bottom performer, falling 2.1%.
On the data front, the Federal Reserve Bank of New York will release their August Survey of Consumer Expectations, including a measure of inflation expectations. Consumer credit is expected to have expanded by $10.20 billion in July, more than the prior month’s increase of $7.37 billion.
Across the pond, European stocks are higher in mid-day trading as markets await France’s vote of confidence for Prime Minister Francois Bayrou’s government. Germany’s industrial production for July registered a stronger-than-expected increase of 1.3% MOM and rose by 1.5% YOY against expectations of a decline. The country’s trade surplus unexpectedly narrowed in July, as both exports and imports declined. The Sentix Investor Confidence Index for the Eurozone saw a sharp decline in September, dropping to negative 9.2 from 3.7 in August.
Overnight in Asia, stocks were mostly higher as Japan’s finalized second-quarter gross domestic product (GDP) was revised upward, growing at an annualized pace of 2.2% and 0.5% quarter-over-quarter (QOQ), while the GDP deflator increased by 3.0% YOY, similar the prior reading. China’s trade surplus in August widened more than expected following weaker-than-expected export and import growth.
In FOREX trading, the dollar is slightly lower ahead of this week’s European Central Bank meeting, taking place on Thursday.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 1.9% higher at $63.06/barrel following a limited planned increase in supply for October by the Organization of the Petroleum Exporting Countries.
In the metals complex, gold is 0.2% higher at $3,629.50/ounce following a weakening dollar.
This content includes material generated with the assistance of artificial intelligence.