US stocks recorded only small gains yesterday as investors were cold feet by weak consumer confidence numbers
*U.S. SEPTEMBER CB CONSUMER CONFIDENCE SINKS TO 103.0; EST. 105.5; PREV. 108.7 *THIS WAS THE LOWEST LEVEL SINCE MAY 2023 Source: www.investing.com
A visualisation of why the fees you pay, matter:
Source: Koyfin
Friday's daily change in S&P 500 Dealer Gamma, $9 Billion, was the largest in history
Source: Barchart
AMERICANS CURRENT VALUE OF STOCK MARKET INVESTMENTS IS SKYROCKETING
The median amount of US consumers' stock market investments hit $237,000. The value has DOUBLED in 1 year. Such a spike has never been seen before. Source: Global Markets Investor
🚨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
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
The number of sp500 stocks outperforming the index is the highest since 2002.
Source: Barchart, BMO
