Market Brief 30 September, 2024

Good evening, investors and traders! The markets closed out September on a positive note, with the S&P 500 Index (GSPC) up 0.34% to 5,757.66 and the Nasdaq 100 Index (NDX) gaining 0.26% to 20,060.0. Key news driving the markets included China's central bank urging commercial lenders to cut rates on existing mortgages, which sent Chinese stocks soaring by the most on record. The Fed's Chair Powell indicated further rate cuts can be expected, but emphasized that the overall economy remains on solid footing. Meanwhile, the yen fell as the market's shock subsided over Shigeru Ishiba's victory in the leadership race of the ruling Liberal Democratic Party. Investors are now looking ahead to the October jobs report and the potential impact of a port strike on the US economy.