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All three indexes are on track for a positive September, despite this month has traditionally and seasonally been a bearish one.
The likely reason for this is Fed’s 50 bps rate cut with a backdrop of a healthy US economy.
$Dow Jones Industrial Average (.DJI.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Advanced Micro Devices (AMD.US)$ $Bank of America (BAC.US)$ $Citigroup (C.US)$ $Goldman Sachs (GS.US)$ $Lendlease Reit (JYEU.SG)$ $iShares Russell 2000 ETF (IWM.US)$ $Apple (AAPL.US)$ $Palantir (PLTR.US)$
The likely reason for this is Fed’s 50 bps rate cut with a backdrop of a healthy US economy.
$Dow Jones Industrial Average (.DJI.US)$ $SPDR Dow Jones Industrial Average Trust (DIA.US)$ $Advanced Micro Devices (AMD.US)$ $Bank of America (BAC.US)$ $Citigroup (C.US)$ $Goldman Sachs (GS.US)$ $Lendlease Reit (JYEU.SG)$ $iShares Russell 2000 ETF (IWM.US)$ $Apple (AAPL.US)$ $Palantir (PLTR.US)$
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Tesla and Nvidia were up 7%+ and 8%+ respectively. Tech heavy Nasdaq was up 1.6% - its biggest single day rally since late July
Interestingly, the 10-year Treasury note yield hit its highest level since Nov 2007. In case you’re not aware, bond yield and stock market typically move in separate direction.
Something has to give?
$SPDR S&P 500 ETF (SPY.US)$ $S&P 500 Index (.SPX.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $Amazon (AMZN.US)$ $Netflix (NFLX.US)$ $Adobe (ADBE.US)$ $Microsoft (MSFT.US)$ $Alphabet-A (GOOGL.US)$ $Alphabet-C (GOOG.US)$ $Meta Platforms (META.US)$ $Salesforce (CRM.US)$
Interestingly, the 10-year Treasury note yield hit its highest level since Nov 2007. In case you’re not aware, bond yield and stock market typically move in separate direction.
Something has to give?
$SPDR S&P 500 ETF (SPY.US)$ $S&P 500 Index (.SPX.US)$ $Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $ProShares UltraPro QQQ ETF (TQQQ.US)$ $Invesco QQQ Trust (QQQ.US)$ $ProShares UltraPro Short QQQ ETF (SQQQ.US)$ $Amazon (AMZN.US)$ $Netflix (NFLX.US)$ $Adobe (ADBE.US)$ $Microsoft (MSFT.US)$ $Alphabet-A (GOOGL.US)$ $Alphabet-C (GOOG.US)$ $Meta Platforms (META.US)$ $Salesforce (CRM.US)$