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Stock Market Update September 18

Stock Market Update September 18, Global stock markets are collectively holding their breath in anticipation of Wednesday's Federal Reserve rate decision. Despite Bloomberg projecting just a 1% likelihood of a rate hike and prevailing sentiment suggesting a similar outcome, markets are not taking chances. Early trading showed a moderate improvement in indices, perhaps recovering from last Friday's dip. However, these gains faded by the day's end, leaving investors questioning if further downside lies ahead.


Elsewhere in the financial landscape, the bond markets remained fairly steady, while the U.S. dollar registered a minor decline. Of note, following a continuous nine-week bullish trend, a market adjustment seemed all but guaranteed. Interestingly, this downward adjustment seemed to bolster the precious metals sector, with silver gaining 1% and gold rising by 0.5 percentage point. Meanwhile, mining stocks ended the day with modest gains, underscoring the sector's resilience amidst broader market volatility.

 

SPY ETF Stock Chart
SPY ETF Stock Chart

  • Stock Market outlook: with a significant low anticipated towards the end of September, followed potentially by a retest in early October. However, we are bullish in the fourth quarter. The market appears poised for a period of volatility in the short term, before possibly regaining momentum in the latter part of the year.

  • Gold Market outlook: Monitor for accelerated purchasing activity should the declining tops line be breached, which presently stands at a level of 1951 for the December futures contract.

  • Bond Outlook: Yields rising until November

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JP Morgan Chase Stock Chart
JP Morgan Chase Stock Chart

Stock Market Heat Map September 18
Stock Market Heat Map September 18




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