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u.s. stocks rose slightly on monday, with all three major stock indexes rising in september and the third quarter. chinese concept stocks performed strongly in september, with the nasdaq china golden dragon index rising by about 30%. u.s. wti crude oil fell 6.2% in september, falling for the third consecutive month.

federal reserve chairman powell said that interest rates may be cut twice more this year, with a total range of 50 basis points.

speeches by european central bank president christine lagarde on monday suggested officials may be gaining momentum in supporting a rate cut.

three major stock indexes rose in september

federal reserve chairman jerome powell signaled that he would not aggressively cut interest rates in the future, causing traders to reduce their bets on the extent of the fed's overall rate cuts. chinese concept stocks performed strongly in september, with the nasdaq china golden dragon index rising by about 30%.

as of monday's close, the dow closed up 0.04% at 42330.15 points; the nasdaq rose 0.38% at 18189.17 points; the s&p 500 index rose 0.42% at 5762.48 points. in september, the dow rose 1.85%, the nasdaq rose 2.68%, and the s&p 500 rose 2.02%.

in september, after the federal reserve slashed interest rates by 50 basis points, the u.s. stock market began to rebound. as of last friday, all three major u.s. stock indexes had risen for the third consecutive week. currently, the market value of the s&p 500 index has exceeded the $50 trillion mark. while technology stocks had a lackluster performance in the third quarter, sharp gains in other sectors showed broader market participation.

investors are confident in the performance of u.s. stocks in the fourth quarter. the latest mliv pulse survey shows that as the federal reserve continues to cut interest rates, most respondents predict that the u.s. stock market will outperform the government and corporate bond markets for the remainder of this year. 60% of respondents are optimistic about the performance of the u.s. stock market in the fourth quarter, and 59% of investors prefer emerging markets to developed markets and avoid traditional safe-haven assets such as u.s. treasury bonds, the u.s. dollar, and gold.

the survey results show that this risk appetite echoes bullish sentiment on wall street after the federal reserve cut interest rates this month.

canaccord genuity analyst michael welch said u.s. stocks performed better than expected in the typically challenging month of september. now, entering a stronger seasonal period, coupled with the start of the fed's easing cycle and favorable technical conditions, these factors are expected to provide u.s. stocks with upward momentum through the end of the year.

powell: fed will gradually advance interest rate cuts

on september 30, local time, federal reserve chairman powell delivered a speech at the annual meeting of the national association of business economics. in his speech, he said that the recent 50 basis point interest rate cut should not be interpreted as a sign that future measures will be equally aggressive. in fact, it indicates that the next step will be smaller. if economic data remains consistent, there could be two more rate cuts this year, totaling 50 basis points.

two weeks ago, the federal reserve announced a 50 basis point interest rate cut, lowering the federal funds rate target range from 5.25%-5.5% to 4.75%-5%. this is also its first interest rate cut since march 2020, which means the beginning of the monetary easing cycle.

at the same time as the interest rate decision was announced, the "dot plot" of interest rate forecasts released by the federal reserve showed that the median of 19 policymakers' expectations for long-term interest rates fell between 2.75% and 3%, which is 200 basis points lower than the current level.

powell also said that the u.s. labor market is solid, but the situation has indeed "cooled significantly over the past year." "we do not believe that we will need to see a further cooling of the labor market to achieve the 2% inflation goal."

still, some central bankers worry that cutting interest rates too quickly could reignite inflationary pressures. in this regard, powell said: "our goal all along has been to restore price stability, but also to prevent a sharp increase in unemployment. "

lagarde: pushing up expectations for an ecb interest rate cut in october

european central bank president christine lagarde's speech to european parliament members in brussels on monday suggested officials may be gaining momentum in support of a rate cut.

"inflation may temporarily rise in the fourth quarter of this year as the previous sharp decline in energy prices is no longer priced in. but the latest developments strengthen our confidence that inflation will return to target levels in time." lagarde said, " we will consider this at our next monetary policy meeting in october。”

the latest consumer price data released earlier on monday showed inflation slowing in italy and germany. after lagarde’s speech,bank of america adjusted its forecast for the european central bank and now expects the next rate cut to be in october rather than december as previously forecast.

bank of america stated, the october interest rate cut will be followed by consecutive interest rate cuts, and the deposit interest rate will drop to 2% by june 2025. that was a quarter ahead of its previous forecast.

the bank also expects the european central bank to make quarterly interest rate cuts in september and december 2025, which will reduce the deposit rate to 1.50%. that was the same level the bank had previously expected, but six months earlier.

u.s. wti crude oil falls for third straight month

u.s. wti crude ended little changed on monday. the price of west texas intermediate crude oil futures for november delivery on the new york mercantile exchange fell by us$0.01, or 0.01%, to close at us$68.17 per barrel. the contract fell by more than 6% in september. brent crude futures fell about 9% in september.

on the same day, libya's eastern parliament approved the candidate for the new central bank governor, ending the deadlock over the control of the opec member's huge energy revenue, which means that the country is about to fully resume oil production and exports.

barclays expects brent crude oil prices to average $85 in 2025.

there may be more than 40 foreign airlines

using risky boeing 737s

on september 30, local time, the u.s. national transportation safety board stated that the gyro control system of boeing 737 aircraft used by more than 40 foreign airlines may have potential safety risks.

the u.s. national transportation safety board revealed that the department has learned that two foreign operators suffered similar accidents involving steering wheel actuators in 2019. "we are concerned that other airlines may not be aware of the presence of these (problematic aircraft) on their 737 aircraft," committee chairwoman jennifer homendy said in a letter to federal aviation administration administrator mike whitaker on the 30th. ) actuator.”

the u.s. national transportation safety board issued an emergency safety advisory to boeing and the faa on the 26th to deal with the possibility that the rudder control system of some boeing 737 aircraft may become stuck or restricted.