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Stock Market Update September 26

Stock Market Update September 26, Uncharacteristically, the S&P 500 Futures exhibited weakness throughout the nighttime session, declining around 1% within the first hour. This drop was fueled by uninspiring macroeconomic indicators. Previously, such dismal data might have led investors to believe the Federal Reserve would ease its stance, providing a lift to bonds. However, it's becoming increasingly clear to market participants that these lagging indicators could be foreshadowing a U.S. economic downturn. I anticipate that most forthcoming data will likely underline this deteriorating trend. Currently, both the broader market and individual securities seem to be dissonant with this reality. Consequently, a turbulent October appears to be on the horizon.


Shifting focus to market behavior, equities trended downward throughout the day, albeit closing slightly above their lowest points with a 1.5% loss. Intriguingly, neither the stock market's performance nor the gloomy economic figures significantly influenced the fixed income market; short-term bonds remained stable, while long-term yields dipped. The U.S. dollar gained traction, whereas metals and mining stocks both retreated.


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SPY ETF Stock Chart September 26
SPY ETF Stock Chart September 26

SPY ETF Stock Chart September 26
SPY ETF Stock Chart September 26

SPY ETF Stock Chart September 26
SPY ETF Stock Chart September 26

SPY ETF Stock Chart September 26
SPY ETF Stock Chart September 26

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