US stock markets are expecting August to end well – with mixed results so far.
All three major indexes were in the green for most of Thursday as they sought a five-day winning streak. However, that may not be enough to push markets higher this month: The S&P 500 and Nasdaq Composite are on track to post their first monthly losses since February.
Federal data on Thursday showed U.S. consumer spending rose more quickly in July, while a closely watched measure of underlying price pressures held steady. That could complicate the Federal Reserve’s debate over whether to hold interest rates steady in September.
As of Thursday afternoon:
Most of the stock indices rose. The Nasdaq and S&P 500 rose slightly, led by the technology-focused Nasdaq. The blue chip Dow was trading lower.
Government bond yields fluctuated. The 10-year U.S. Treasury yield was last at around 4.093%, after settling at 4.117% on Wednesday.
Salesforce jumped. The technology company is the best performer in the Dow, up nearly 4% after an earnings beat. Apple expected a fifth straight daily gain.
Dollar General fell. The retail chain fell about 12%, making it the S&P 500’s biggest loser, after it cut its sales and profit outlook.
Chinese stocks have had a terrible month. The Shanghai Composite posted its worst monthly performance since September 2022, while Hong Kong’s Hang Seng Index fell into a bear market in August. In Europe, bonds rose while the euro fell.
The US government’s jobs report for August is due out on Friday.
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