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US markets end mostly lower on Monday

28 Sep 2021 Evaluate

The US markets ended mostly lower on Monday with investors largely making cautious moves as they looked ahead to speeches from several Fed officials, including Chairman Jerome Powell, and continued to keep an eye on the developments surrounding debt-laden China Evergrande. Traders ignored report that new orders for US manufactured durable goods increased by much more than expected in the month of August, according to a report released the Commerce Department. The report said durable goods orders jumped by 1.8 percent in August after rising by a revised 0.5 percent in July. Street had expected durable goods orders to increase by 0.6 percent compared to the 0.1 percent dip that had been reported for the previous month.

The bigger than expected increase in durable goods orders was largely due to a spike in orders for transportation equipment, which shot up by 5.5 percent in August after dipping by 0.4 percent in July. Orders for non-defense aircraft and parts led the way higher, soaring by 77.9 percent in August after plunging by 36.3 percent in July. Excluding the rebound in orders for transportation equipment, durable goods orders edged up by 0.2 percent in August after climbing by 0.8 percent in July. Notable increases in orders for fabricated metal products, computers and electronic products and electrical equipment, appliances and components were partly offset by a drop in orders for machinery.

The Nasdaq fell 77.73 points or 0.52 percent to 14,969.97 and S&P 500 was down by 12.37 points or 0.28 percent to 4,443.11, while the Dow Jones Industrial Average surged 71.37 points or 0.21 percent to 34,869.37. 

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MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

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