Yahoo Finance

Taking a look at the markets here as we bring in the opening bell on Wall Street again, kicking off the final trading day of September. September one of the best performing months that we have seen. Our September month, I should I should clarify that, the one of the best performing Septembers we have seen in just about a decade. We take a look at some of that outperformance as we have regained some of that lost momentum there from compared to how we started the month. But taking a look at futures, we are looking a bit at a bit of red here as we start today's trading session. Again, lots of questions about what we are going to see later on this week, as we look ahead to the jobs print and maybe what that tells us about the overall picture or the more macro picture of the economy, and whether or not that raises the risk of a recession if we were to get a very weak print. But again, taking a look at the three major averages, you're looking at the Dow off just about two tenths of a percent. That's also the case for the S&P 500, as well as the NASDAQ. So again, a bit of pressure here as we kick off the final trading day of September, Maddie.

All right. Well, let's get to it with Yahoo Finances, Jared Blickre, for a broader look at what is moving markets. I believe we have Jared standing by. Hey, Jared.

Hey, Maddie. Uh, I am Well, let's let's report what the incredible quarter that we've had. We were starting on a little bit of a downdraft here. But here's the Dow. I'm going to show you a picture of the quarter to date. Uh, 64 trading days and we are ending pretty close to the highs here at the upper right end of that chart. Now, you take a look at the NASDAQ, it's a different story. That's up barely 2%, and in fact, it's not even eclipsing the highs that we had, uh, in the beginning of the quarter. That would be in early July. And let's not forget, we had that nasty Yenmageddon downdraft in early August, and that really kind of set text off tech stocks off on a bad foot there, and they never quite recovered, although they are now. I do want to point out that the NASDAQ is making higher highs, so on a shorter term basis, uh, it is in the definition and meeting the definition of an uptrend. Now, here's the S&P 500, up almost 5% for the quarter. And I just want to show you a seasonality study. This is brought to you by Cycles Fan. The SPX, that's the S&P 500, is up eight of the first nine months of 2024. That has only happened seven other times before. 1954, 58, 64, 95, 96, 2006 and 2017. The last four times can be seen in the chart, and in all cases, Q4 was bullish and it cruised higher into January of the following year. A little bit hard to see this chart here, uh, but we did get some continuation, and the last two of those were late stage bear bull markets, and the other two in the 90s, those were mid cycle. So interesting to think about how that could play into what we might expect here for the coming into the end of the year and also for next year, 2025. I'm trying to get a handle on the dollar as well. That is kind of sunk to support here, critical support, um, and I'm going to put a chart here and let's put this on a year-to-date basis. And we can see it's just hovering at the very lower end of this range. And if the dollar were to go lower here, that would be a boon for risk markets. If it went sharply higher, that would be a warning sign. And if it just kind of does more of the same, not really, uh, choosing which direction it wants to go in, but meandering, well, that doesn't mean too much. I do want to, uh, supplement the analysis you were giving earlier, Maddie, on the sector winners and losers for the quarter. This is real time. So, as you said, utilities and real estate, defensive sectors, but also interest rate sectors, interest rate sensitive sectors, those are taking the lead. Industrials, that's XLI is number three, then you have consumer discretionary, financials and materials. That rounds out the top row. When you take a look at month to date, consumer discretionary, that's XLY up in the left corner there. That's up 7%, followed by utilities and then communication services. But I think what's really important to note here, and I'm going to go to our leaders, is that we did not have participation from the semiconductors this quarter. Um, you take a look at the SOX and, uh, I believe it's just barely negative. Uh, zero negative 0.03, you can see in the lower left there. Um, that is what it did for the whole quarter. And remember all the concentration worries that we had with Nvidia making too much of too much of the market returns. Well, this quarter, China came back. China just had its best week ever, by the way. KWEB is what you see in the upper left. That's Chinese internet stocks. They're up 37% this quarter. They came back. You have Bitcoin rolling back, gambling, emerging markets, uh, some mega seven action, but also unprofitable tech. That's the AR components. So, all in all, we did get a broadening of the rally. And I'll just leave it on this. This is the Ark Innovation funds holding, and we did see a lot of, uh, rotation into some of those smaller cap and more, uh, less profitable names.