Stocks mostly fell on Monday as investors booked profits from a record-setting streak and looked for clues to the US Federal Reserve’s next interest rate move.

Stock indices pulled back at the start of trading in New York after having had set fresh records yet again on Friday following the Fed’s resumption interest rate cuts.

“A consolidation trade is afoot after another sprint this month,” said Briefing.com analyst Patrick O’Hare, as the S&P 500 index has gained 3.2 percent in September and the Nasdaq Composite 5.5 percent.

The stock market is “likely experiencing a profit-taking breather”, he added.

Global equities have enjoyed a healthy run-up in recent months on optimism that the US central bank will lower borrowing costs several times before the end of 2025 over worries about a so

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