Traders Consolidate Positions in Final Session for Q3, Driving Cautious Losses for US Equity Futures

MT Newswires Live09-30

US equity futures posted narrow losses ahead of Monday's opening bell as Wall Street is set to kick off the final trading session of September.

The Dow Jones Industrial Average futures fell 0.1%, S&P 500 futures lost 0.2% and Nasdaq futures were down 0.3%.

Oil prices were higher, with front-month global benchmarks North Sea Brent crude up 0.4% at $71.80 per barrel and US West Texas Intermediate crude up 0.3% at $68.41 per barrel.

The Chicago Purchasing Managers' Index, due at 9:45 am ET, is seen coming in unchanged from August at 46.1 in September, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 4.8% lower, Hong Kong's Hang Seng ended 2.4% higher, and China's Shanghai Composite finished 8.1% higher. Meanwhile, UK's FTSE 100 declined 0.6%, and Germany's DAX index fell 0.8% in Europe's early afternoon session.

In equities, Prime Medicine (PRME) shares rose 18% after the company said it entered into a strategic collaboration with Bristol-Myers Squibb (BMY) to develop reagents for T-cell therapies.

On the losing side, Stellantis (STLA) shares fell 13% after the company cut its 2024 financial guidance.

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