Stock Market Today: Stocks Gain After Powell Talks Rate Cuts
A late-day burst of buying power helped the main indexes close higher for the day, month and quarter.



Stocks struggled for direction Monday, though the main indexes notched definitive gains for both the month and quarter. A mid-afternoon speech from Fed Chair Jerome Powell failed to lift sentiment, with all eyes now firmly set on the September jobs report, due at the end of the week.
During an appearance in Nashville, Powell said that the Fed sees its dual policy mandate – inflation and employment – as roughly balanced and feels the economy is in good shape.
He added that the central bank will continue to lower interest rates, but the pace and magnitude of those cuts will depend on the current economic data. For its November meeting, the Fed will take in the totality of the economic data – including the two jobs reports that will be released ahead of the event.

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
The next job report hits ahead of this Friday's open. Barclays economists think it will show that job growth accelerated a bit last month. "We expect a 150,000 increase in nonfarm payroll employment in September, slightly faster than August's 142,000 gain," the group writes. "On the household side, we look for the unemployment rate to remain at 4.2%."
Ahead of the payrolls data, futures traders are pricing in a 60% chance the central bank will cut rates by a quarter-percentage point in November, according to CME Group's FedWatch Tool. Odds that it'll be by a half-percentage point are currently at 40%.
Stellantis sinks on profit warning
In single-stock news, Stellantis (STLA) plummeted 12.6% after the automaker lowered its full-year operating margin amid deteriorating "global industry dynamics" and increased competition from China.
Ford Motor (F, -2.0%) and General Motors (GM, -3.5%) also declined on the news.
AT&T sells DirecTV stake
Elsewhere, AT&T (T, +0.5%) said it is selling its 70% stake in DirecTV to private equity firm TPG (TPG, -0.8%) for $7.6 billion. This will allow DirecTV to merge with fellow satellite TV provider Dish Network, which is currently owned by EchoStar (SATS, -11.5%). This news was confirmed in a separate announcement.
CVS jumps on activist investor news
CVS Health (CVS) stock popped after media reports indicated Glenview Capital took a position in the embattled pharmacy chain. The hedge fund met with leadership on Monday and could be pushing for changes, according to The Wall Street Journal.
Also on Monday, the company told employees that it is eliminating roughly 2,900 jobs as part of previously announced cost-cutting initiatives.
The healthcare stock jumped 2.4%, but remains 20% lower for the year to date.
Stocks end September with a win
Thanks to a late-day burst of buying power, the Dow Jones Industrial Average finished the session up 0.04% at 42,330, the S&P 500 was 0.4% higher at 5,762, and the Nasdaq Composite gained 0.4% to 18,189.
All three main benchmarks finished up on the historically tough month and ended Q3 back near record highs.
"While the third quarter was a volatile one, with the early August and the early September selloffs, stocks are ending the quarter with gains," says Emily Bowersock Hill, CEO and founding partner of Bowersock Capital Partners. "We expect the fourth quarter to be quite similar to the third quarter – elevated volatility, but with a strong finish."
Related content
- Is Investing In Gold Worth It? How Gold Prices Have Changed
- What Is the Rule of 72 and How Is It Used in Investing?
- How to Spot a Bubble in Stocks
Get Kiplinger Today newsletter — free
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

With over a decade of experience writing about the stock market, Karee Venema is the senior investing editor at Kiplinger.com. She joined the publication in April 2021 after 10 years of working as an investing writer and columnist at a local investment research firm. In her previous role, Karee focused primarily on options trading, as well as technical, fundamental and sentiment analysis.
-
80-Year Old Dick Durbin, the Senate’s No. 2 Democrat, To Retire After 44 Years in Congress
‘In my heart, I know it’s time to pass the torch,’ Senator Durbin said in a statement.
By Kathryn Pomroy
-
Stock Market Today: Stocks Rise on Good Volatility
Investors, traders and speculators continue to process the "known unknown" of global tariff-and-trade war negotiations.
By David Dittman
-
Stock Market Today: Stocks Rise on Good Volatility
Investors, traders and speculators continue to process the "known unknown" of global tariff-and-trade war negotiations.
By David Dittman
-
Before You Invest Like a Politician, Consider This Dilemma
As apps that track congressional stock trading become more popular, investors need to take into consideration some caveats.
By Ryan K. Snover, Investment Adviser Representative
-
How to Put Together Your Personal Net Worth Statement
Now that tax season is over for most of us, it's the perfect time to organize your assets and liabilities to assess your financial wellness.
By Denise McClain, JD, CPA
-
Stock Market Today: Trump Retreats, Markets Rejoice
Stocks rally, yields soften, the dollar rises, and even beaten-down names enjoy the wages of potential trade peace.
By David Dittman
-
Tesla Stock Pops as Elon Musk Promises DOGE Draw Back
Tesla reported a sharp drop in first-quarter earnings and sales, as the EV maker suffered a backlash to its CEO's political ambitions.
By Karee Venema
-
Bouncing Back: New Tunes for Millennials Trying to Make It
Adele's mournful melodies kick off this generation's financial playlist, but with the right plan, Millennials can finish strong.
By Alvina Lo
-
Early-Stage Startup Deals: How Do Convertible Notes Work?
Some angel investors support early startups by providing a loan in exchange for a convertible note, which includes annual interest and a maturity date.
By Murat Abdrakhmanov
-
Stock Market Today: Stocks Soar on China Trade Talk Hopes
Treasury Secretary Bessent said current U.S.-China trade relations are unsustainable and signaled hopes for negotiations.
By Karee Venema