🚨US UNEMPLOYMENT RATE USUALLY RISES BEFORE THE S&P 500 CORRECTION🚨
US jobless rate rose from 3.4% in April 2023 to 4.2% in August near the highest in 3 years. In the past, when the unemployment rate was rising, the S&P 500 index saw significant declines. The us jobs reports in the coming weeks will be key... Source. Global Markets Investor
Don't stop. Keep going.
Source: Markets & Mayhem
Contrarian Investment
Source: The Investing for Beginners Podcast @IFB_podcast
Money Market Funds saw a weekly outflow of $20 billion, the largest weekly outflow since June
Source: Barchart, Bloomberg
At 5,703, the S&P 500 is now over 300 points above above the highest 2024 year-end price target from Wall Street strategists and 17% above the average target (4,861).
And there's still 3 months to go in the year. $SPX Source: Charlie Bilello
How are the 'Magnificent 7' Tech stocks doing so far this year?
🟢 Nvidia Is Up +134.2% $NVDA 🟢 Meta Is Up +58.6% $META 🟢 Amazon Is Up +26.1% $AMZN 🟢 Apple Is Up +18.5% $AAPL 🟢 Alphabet Is Up +16.8% $GOOGL 🟢 Microsoft Is Up +15.7% $MSFT 🔴 Tesla Is Down -4.1% $TSLA Note that S&P 500 and Nasdaq are both up +19.6% YTD
Ahead of Oktoberfest... Life is all about liquidity!
Source: Ronald-Peter Stoeferle, CMT, CFTe, MSTA, Incrementum AG
The number of sp500 stocks outperforming the index is the highest since 2002.
Source: Barchart, BMO
