Stocks, Bonds Shaken By September Turbulence Ahead Of Government Shutdown Deadline: The Week In The Markets
Portfolio Pulse from Piero Cingari
September has been a tough month for the U.S. stock market, with both the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust closing 5% lower. Treasury yields have surged, causing the iShares 20+ Year Treasury Bond ETF to tumble 8.7%. The potential U.S. government shutdown is causing market anxiety, with Moody's warning of adverse credit consequences. The Senate Banking Committee has approved the SAFE Banking Act, granting legal cannabis businesses access to banks. JPMorgan CEO Jamie Dimon expressed concern about potential interest rate surge to 7%. The energy sector, tracked by the Energy Select Sector SPDR Fund, was the week's best performer, with Exxon Mobil Corp. shares reaching new all-time highs.
September 29, 2023 | 8:13 pm
News sentiment analysis
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NEGATIVE IMPACT
JPMorgan CEO Jamie Dimon expressed concern about potential interest rate surge to 7%, which could have severe repercussions for businesses and consumers.
The potential surge in interest rates to 7% could have negative implications for JPMorgan, as it could lead to a slowdown in lending activities and increase the cost of borrowing.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 80
NEGATIVE IMPACT
The Invesco QQQ Trust also closed 5% lower in September, reflecting the overall negative sentiment in the market.
The 5% drop in QQQ is a reflection of the overall negative sentiment in the market, which could potentially lead to further declines in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust closed 5% lower in September, indicating a tough month for the stock market.
The 5% drop in SPY indicates a negative sentiment in the market, which could potentially lead to further declines in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The iShares 20+ Year Treasury Bond ETF tumbled 8.7% in September due to surging Treasury yields.
The significant drop in TLT is due to the surge in Treasury yields, which is a negative indicator for bond prices. This could potentially lead to further declines in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
The Energy Select Sector SPDR Fund was the week's best performer, reflecting the strong performance of the energy sector.
The strong performance of XLE indicates a positive sentiment in the energy sector, which could potentially lead to further gains in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Shares of Exxon Mobil Corp. reached new all-time highs this week, reflecting the strong performance of the energy sector.
The new all-time high for XOM shares indicates a positive sentiment for the company, which could potentially lead to further gains in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100