In a significant market development, U.S. stock benchmarks reached new heights on Monday, prompting analysts and investors to closely monitor the landscape for potential impacts going forward. The Nasdaq Composite, Nasdaq 100, and the S&P 500 all posted record highs, reflecting a robust performance in September. Specifically, the Nasdaq experienced a notable increase of 4% this month alone, and an impressive 15% over the past three months. Similarly, the Nasdaq 100 recorded a 3.75% rise in September and a 12% increase over the last quarter. The S&P 500 showed resilience as well, climbing 2.4% in September and 11% in the past three months.
With market conditions favorable, CNBC’s coverage will kick off early Tuesday morning, starting with Frank Holland on “Worldwide Exchange” at 5 a.m. ET, focusing on what lies ahead for these soaring indexes.
In the airline sector, United Airlines remains a focal point. CNBC’s Auto and Airline Reporter, Phil LeBeau, is set to engage with United Airlines CEO Scott Kirby during the 6 a.m. hour of “Squawk Box.” Currently, United’s shares are just 10% shy of their 52-week high recorded in January. This comes in light of a remarkable 41% share price surge over the last three months. In contrast, competitors Delta and American Airlines have faced more challenging conditions since reaching their highs earlier this year. While Delta has dropped 16.5%, it has nonetheless gained 24% over the past three-month period. American Airlines is down 34% from its high but up 21% recently.
Further spotlight will also be on Rivian, as LeBeau conducts an interview with CEO RJ Scaringe during the 9 a.m. hour of “Squawk on the Street.” The electric vehicle maker’s stock currently stands 21% below its peak from May 20, although it has experienced an 11% uptick in the past month.
Attention will also be directed towards upcoming retail sales data for August, set to be released during “Squawk Box” at 8:30 a.m. Market analysts anticipate an increase of 0.3%. The SPDR S&P Retail ETF (XRT) reports are promising, as it approaches last week’s high and has risen 4% in September. Noteworthy performers in the retail space include American Eagle Outfitters, which has skyrocketed 51%, along with Build-a-Bear Workshop and Macy’s, each up 36%. Conversely, companies like Groupon, Dollar Tree, and Target have not fared as well, finding themselves at the lower end of recent performance metrics.
Lastly, viewers can look forward to a discussion featuring Treasury Secretary Scott Bessent on “Squawk Box,” where he will delve into various topics, including interest rates and the future trajectory of the Federal Reserve. As markets remain dynamic, stakeholders will be keenly watching these developments unfold.
