U.S. stock futures showed little movement Monday night as investors assessed the latest trade developments at the start of September, historically a challenging month for equities. Dow Jones Industrial Average futures rose by 41 points, or 0.09%. The S&P 500 and Nasdaq 100 futures also reflected slight increases, up about 0.12% and 0.13%, respectively.
These changes follow a significant legal ruling last Friday, when a federal appeals court declared most of former President Donald Trump’s global tariffs as illegal. In a 7-4 decision, the U.S. Court of Appeals for the Federal Circuit asserted that only Congress possesses the authority to impose such sweeping tariffs. Trump criticized the ruling as “Highly Partisan” and announced plans to appeal to the U.S. Supreme Court.
Aniket Shah, head of sustainability and transition strategy at Jefferies, noted that a potential Supreme Court ruling against using the International Emergency Economic Powers Act (IEEPA) for reciprocal tariffs could mitigate the risk of widespread tariff hikes, a move that would generally benefit the market. However, he cautioned that short-term uncertainty might increase as certain trade agreements could require renegotiation.
This uncertainty comes at a time when September is notoriously seen as the worst month for equities, with the S&P 500 historically averaging a decline of 4.2% over the past five years, and a more than 2% drop over the last decade.
Adding another layer of complexity to the financial landscape are concerns regarding the independence of the Federal Reserve amid the Trump administration’s efforts to replace central bank officials. A court hearing aimed at temporarily blocking Trump from firing Federal Reserve Governor Lisa Cook concluded Friday without a ruling. This week, Trump nominee Stephen Miran is scheduled for a Senate Banking Committee hearing on September 4.
Wall Street concluded August on a high note, with the Dow gaining over 3%, the S&P 500 rising nearly 2%, and the Nasdaq, which is heavily weighted in technology, finishing 1.6% higher. This marked the S&P 500’s fourth consecutive month of gains.
As traders look ahead, attention is turning toward the release of August’s jobs report expected later this week. This report is anticipated to have significant implications for the Federal Reserve’s interest rate decisions, slated for mid-September.
In summary, while U.S. stock futures remain relatively stable, an interplay of ongoing trade tensions and Federal Reserve uncertainties is poised to shape market sentiment as traders navigate the typically turbulent month of September. The upcoming jobs report could serve as a critical indicator for both the stock market and economic policy.
Original Source: https://www.cnbc.com/2025/09/01/stock-market-today-live-updates.html
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Publish Date: 2025-09-02 03:48:00
