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Happy Monday. This is TheStreet's Stock Market Today for Sept. 2, 2025. You can follow the latest updates on the market here with our daily live blog.
Update: 7:21 a.m. ET
Pre-Market Update: Gold Scores Record, Stocks Dip
Happy September (to those who celebrate.) After a months-long rally back from April's tariff tumult, the stock market might face its match this month as market optimism is made to face reality. It's not starting off quite how investors might like.
This weekend, Gold jumped to a new all-time high, surpassing $3,500 on renewed policy worries. Joining it, the 30Y Treasury rose to its highest point since Jul. 2025, hitting 4.98%. Top of mind? Government spending.
That's boiling down to stocks. With just two hours left until the opening bell, stocks are currently set for some marked declines in their first session of the month. Stock futures on major U.S. indexes are down between 1% (Russell 2000) and -0.5% (Dow) or the moment. The Cboe Volatility Index (+11%) just crossed above 18.
A.M. Headlines
- Several big IPOs are expected this week: Klarna ($14 billion valuation), Legence ($3 billion), Gemini ($2.2 billion), and Black Rock Coffee Bar ($861 million).
- Activist investor Elliott Management is said to have amassed a $4 billion stake in PepsiCo, per WSJ.
- Kraft Heinz will split itself into two publicly-traded companies as part of a strategic split of the company.
- Treasury Secretary Scott Bessent has teased that the Trump administration could declare a ‘national housing emergency', per Bloomberg.
- President Trump is expected to make an announcement in the Oval Office this afternoon, per schedule.
- Nestlé hired Nespresso CEO Philipp Navratil to replace its second CEO of the year, who was terminated over a workplace affair.
Update: 7:03 a.m. ET
Earnings Today: Zscaler, Nio, Healthequity
This shortened market week, we'll be treated to a final earnings hurrah, with the last of Q2 earnings making their mark on investors.
Today, per Nasdaq, we are expecting up to 21 earnings reports. Sourced from data from TipRanks, here are the ones worth >$1 billion that are due out today:
Economic Data: ISM PMI, Construction Spending, Total Vehicle Sales
Starting off this week, investors will be getting quite a lot of smaller, lesser-known economic data reports. Here are the highlights:
6:00 a.m. ET
- LMI Logistics Managers Index (Aug) [Prev: 59.2]
9:45 a.m.
- S&P Global Manufacturing PMI (Aug) [Prev: 49.8]
10:00 a.m.
- ISM Manufacturing PMI (Aug) [Prev: 48]
- ISM Manufacturing Employment (Aug) [Prev: 43.4]
- ISM Manufacturing New Orders [Prev: 47.1]
- ISM Manufacturing Prices [Prev: 64.8]
- Construction Spending (Jul) [Prev: -0.4% month-over-month]
10:10 a.m.
- RCM/TIPP Economic Optimism Index (Sept) [Prev: 50.9]
Other Reports Today
- Total Vehicle Sales (Aug) [Prev: 16.4 million]
- 3mo and 6mo bill auction due out at 11:30 a.m.
- 52wk bill auction due out at 1:00 p.m.
