01.09.202523:44:40UTC+00US Futures Edge Lower as September Trading Begins

As markets reopened on Tuesday following the extended holiday weekend, US stock futures saw a decline, marking the beginning of what is typically a sluggish month for equities. Historically, September has proven challenging for the stock market, with the S&P 500 experiencing an average drop of 4.2% over the last five years. Investor sentiment took a hit due to a late Friday ruling by a federal appeals court, which declared a majority of former President Donald Trump’s global tariffs as unlawful. Trump criticized the ruling, labeling it as "highly partisan" and pledged to take the matter to the US Supreme Court. Meanwhile, ongoing concerns about the Federal Reserve's independence persisted as Trump made moves to dismiss Fed Governor Lisa Cook. This week, Trump nominee Stephen Miran is scheduled to attend a Senate Banking Committee hearing. In August, the Dow Jones Industrial Average increased by 3.2%, the S&P 500 rose by 1.91%, and the Nasdaq Composite Index saw a 1.58% gain.