Evening Market Recap - Monday, 30-Sep

US equities were higher in Monday trading, ending just off their best levels after erasing afternoon declines, with the Dow Jones, S&P 500, and Nasdaq closing up 4bps, 42bps, and 38bps respectively. Fed Chair Powell said that if the economy evolves as expected, two 25bp cuts are the base case for remainder of year. Fed Governor Bowman repeated her preference for slower easing. Atlanta's Bostic said he's open to a 50bp move should the labor market weaken. September’s Dallas Fed Index came in ahead of estimates, and Chicago PMI came in slightly ahead of consensus on backlogs and employment upside.