Connect with us

Hi, what are you looking for?

Stocks

Investors Try to Squeeze One Last Stock Boost out of September

As the month rolls over and economic concerns loom, investors are looking to get whatever profits they can.

September has proven to be a bit of a strange month for the stock market, with values wildly fluctuating in both directions. Currently, the most pressing concern is the looming threat of a government shutdown, coupled with the potentially greater threat of the USA exceeding the debt ceiling. However, as Senate Majority Leader Chuck Schumer has a measure on the ballot for today, problems can be averted as long as it’s passed. With that set for later today, the only thing investors can do now is try to squeeze whatever gains they can before the month rolls over.

At the opening of trading today, the Dow Jones average picked up 24 points, about a 0.1% gain. The S&P 500 and Nasdaq fared slightly better, picking up 0.3% and 0.6%, respectively. Tech stocks in particular are at the forefront of the last minute climb, with Facebook, Apple, and Netflix making gains around 2%. In spite of these small gains, though, all of the major indexes lost a decent chunk of their value over the course of the month. The Dow burned 2.7%, the S&P 500 lost 3.6%, and the Nasdaq fared the worst with a 4.9% loss.

“We wouldn’t get caught up in any end-of-quarter machinations today and continue to advise fading rallies (especially in tech) as the coming weeks will stay rocky,” wrote Adam Crisafulli of Vital Knowledge to investors.

Typically, as the shopping seasons get closer and the end of the year looms, October is when things begin to get interesting. “September lived up to its reputation and dented stock portfolio returns, but not too badly,” wrote Ed Yardeni of Yardeni Research. “There has been a lot of concern that higher wages, higher energy prices, and higher transportation costs will weigh on earnings for the remainder of this year and into 2022. It’s certainly something we’ll be tracking. But so far, analysts remain relatively sanguine.”

You May Also Like

News

In the past year, Peloton, manufacturers of stationary exercise bicycles and treadmills, has been experiencing some severe financial difficulties. The company went through a...

News

While the ongoing supply chain problems affecting the global economy have had the expected effects, they’ve also had some decidedly unexpected effects. Specifically, many...

News

As gas prices continue to rise and consumer confidence drops, not to mention the ongoing war in Ukraine, the European economy is taking a...

News

As the environmental need for electric vehicles becomes more pressing, and the car-buying public becomes more eager for them, automotive manufacturers are getting ready...

News

This morning, Coinbase CEO Brian Armstrong sent a mass email out to his company informing everyone that, as stock and crypto prices slip and...

News

Last week, a former cybersecurity expert for Twitter, Peiter “Mudge” Zatko, released a whistleblower report on the social platform. In his report, Zatko cited...

News

Zelle is a peer-to-peer payment app and service that can be used by individuals to send and receive money, in a similar vein to...

News

Earlier this week, following the third-term victory of Chinese President Xi Jinping, market shares in Hong Kong experienced a sudden, violent sell-off. Xi’s controversial...