Wall Street closes September with strong performance, advancing through the third quarter.

The Dow Jones and S&P 500 indices have now posted gains for five consecutive months, while the Nasdaq led the rally following the Federal Reserve’s rate cut.

All three major Wall Street indices recorded gains on the last trading day of September. Supported by remarks from Federal Reserve Chair Jerome Powell, they capped off both a positive month and quarter.

The Dow Jones Industrial Average, comprising 30 of the largest companies, rose 0.04% to 42,330.15 points, while the S&P 500, which represents 500 stocks, climbed 0.42% to 5,762.48 points. The tech-heavy Nasdaq gained 0.38% to close at 18,189.17 points.

In a speech at the National Association for Business Economics conference, Fed Chair Powell emphasized the strength of the U.S. economy and described the 50 basis point rate cut as a vote of confidence.

The averages opened mixed but reversed course throughout the day to close in positive territory. Only two major sectors of the S&P 500 ended in the red. Among the Dow Jones components, Apple stood out with a 2.24% gain.

Thanks to this positive performance, U.S. indices extended their gains in September, defying the historical trend of a traditionally weak month for the market. The 50 basis point rate cut boosted stocks.

On a monthly basis, the Nasdaq led the gains, marking its second positive month with a 2.66% increase. The S&P 500 gained 2.02%, while the Dow Jones posted a 1.85% increase, both extending their streak to five consecutive positive months amid market optimism.

For the third quarter, the Dow Jones led with a 7.85% gain, while the S&P 500 rose 5.15% since June, and the Nasdaq Composite advanced 2.57% over the past three months.