US markets on official holiday today

The Wall Street trading floor

US markets are closed today, Sept. 2, in observance of Labor Day, and will resume work tomorrow.

The Dow Jones index ended trading in the last session of August up by 0.55%, or 228 points, snapping a record close of 41,563 points. It logged weekly and monthly gains of 0.95% and 1.75%, respectively.

Elsewhere, the S&P 500 jumped by about 1% (56 points) to 5,648 points, generating weekly gains of 0.25% and 2.3% on a monthly basis.

The Nasdaq, similarly, climbed by about 1.15% to 17,713 points, notching monthly gains of 0.65%, despite its decline of 0.9% over the past week.

Wall Street investors await a busy week of economic data that will likely determine whether the Fed will cut interest rates by 25 or 50 basis points at its September policy meeting.

The ADP report on the monthly change in US private sector employment as well as weekly jobless claims data are due out on Thursday, a day before the monthly nonfarm payrolls and US unemployment rate readings.