Stocks started October and the fourth quarter of 2024 on a tentative note, with both the Dow Jones Industrial Average and the S&P 500 index opening lower.
This comes the morning after both indexes clocked in record closes. It was the Dow’s 33rd record close of 2024 and the S&P 500’s 43rd.
A slew of economic data will come in shortly after the opening bell. This includes S&P’s final U.S. manufacturing PMI for September, at 9:45 a.m. Eastern time, and ISM manufacturing data at 10 a.m.
Investors will also be paying attention to the job openings and labor turnover data for August, which is scheduled for 10 a.m.
These reports will give investors more context about the state of the manufacturing industry and the labor market, which have both shown signs of cooling recently.
The Dow Jones Industrial Average opened at 42,262.97, down about 0.3%
The S&P 500 opened at 5,757.73, down about 0.2%
The Nasdaq Composite opened at 18,154.94, down about 0.2%