Q. Is September statistically the worst month of the year for the financial markets?
A: Yes, according to the Stock Trader’s Almanac. Most investors tend to answer October because of the 1987 and 1929 crashes.
Q: Why the rocky start to trading in the equity markets this September?
A: Recently, CNBC cited U.S. manufacturing activity contracted for a fifth straight month concurrent with the first day of September trading sell off.
Headline Round Up
*Dell Server Sales Soar 80% in Q2 Riding Artificial Intelligence (AI) Wave.
*BlackRock: Capital Expenditures by Big Tech and Cloud Providers Doubled in Under 5 Years Ending 2023.
*Brazil’s Telecommunications Regulator Threatens Starlink Sanctions After Banning Elon’s X Social Media Company.
*Constellation Brands Announces Sobering Earnings Outlook Cut Due to Drop in Wine and Spirit Sales.
*Warning Sign? Bullish U.S. Households Reach 42% of Total Financial Assets in Stock Allocations, Highest on Record since 1952!
*Dockworkers Union Threaten Strike if New Labor Deal Isn’t Agreed to by Sept. 30. Workers asking for 77% Pay Increase Over 6 Years.
*Gap’s Surprising Q2 Earnings Release Plus Raised Operating Income Forecast.
*Exxon Joins OPEC Warning of Looming Oil Supply Crisis Despite Contrasting Forecasts From the International Energy Agency (IEA) and Others.
*Wall Street Journal Editorial Board: Oil Production in Gulf of Mexico Endangered? NextDecade’s Rio Grande Liquified Natural Gas (LNG) Permit Vacated in Appeals Court?
SPDR Dow Jones Industrial Average Exchange Traded Fund (ETF) Trust, Invesco QQQ Trust Series 1 and SPDR Standard & Poor’s 500 Exchange Traded Fund (ETF) Trust (09/05/2023 – 09/04/2024)
– Courtesy of Bloomberg LP
U.S. Institute for Supply Management’s (ISM) Purchasing Manager’s Index, Seasonally Adjusted (09/06/2019 – 09/04/2024)
– Courtesy of Bloomberg LP
Gross Domestic Product (GDP) U.S. Chained Dollars – Quarter over Quarter, Seasonally Adjusted at Annual Rate (09/06/2019 – 09/04/2024)
– Courtesy of Bloomberg LP
Department of Energy’s Cushing Oklahoma Crude Oil Total Stocks (08/23/2014 – 08/23/2024)
– Courtesy of Bloomberg LP
Nuveen Quality Municipal Income Fund (09/05/2023 – 09/04/2024)
– Courtesy of Bloomberg LP
Profit Report
The continued evolution of McGowanGroup Wealth Management investment plans.
