Looking for Black Swans in September

ng.investing.com/analysis/looking-for-black-swans-in-september-206732

By Ed Yardeni | Sep 04, 2024 09:40

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September has just started and is already living up to its reputation of being the toughest month of the year for stocks.

The stock market sold off after the open and August's weak M-PMI report was released later on, which pressured equities further.

Commodities prices fell alongside stocks, led by oil and copper.

ISM PMI Vs. Real GDP Goods

Leading the way down in the S&P 500 were the semiconductor stocks, which have been especially volatile lately.

That's a bummer given that just yesterday, we wondered out loud what could possibly go wrong? We didn't have a good answer.

One account responded to our analysis by observing that he worries most when there doesn't seem to be much to worry about.

In any event, nothing really went wrong today other than the market dropped on news that was only mildly bearish and not at all surprising.

Investors might have decided to take some of their profits now and not wait for a Black Swan event to show up this month. Now we are back to thinking that stock prices could churn a while longer before resuming their climb.

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NSE 30	4,006.62	-9.83	-0.24%
NSE All Share	108,467.98	-265.42	-0.24%
US 30	42,313.0	-97.1	-0.23%
US 500	5,824.3	-19.9	-0.34%
FTSE 100	8,583.46	-21.52	-0.25%
DAX	23,566.54	+67.22	+0.29%
South Africa Top 40	84,689.81	+306.34	+0.36%

Brent Oil	64.94	-0.02	-0.03%
Crude Oil WTI	61.98	+0.03	+0.05%
Gold	3,266.31	+38.31	+1.19%
Silver	33.315	+0.691	+2.12%
Copper	4.6680	+0.0370	+0.80%
London Cocoa	6,753.00	+82.00	+1.23%
London Wheat	157.25	+1.30	+0.83%

Nigeria 10Y	19.843	+0.134	+0.68%
Nigeria 2Y	27.974	0.000	0.00%
U.K. 10Y	4.6995	+0.0485	+1.04%
Germany 10Y	2.6580	+0.0160	+0.61%
U.S. 10Y	4.457	0.000	0.00%
U.S. 5Y	4.092	-0.011	-0.27%
U.S. 2Y	3.992	-0.010	-0.25%

Fidelitybk	19.600	-0.400	-2.00%
Zenith Bank	48.80	-0.10	-0.20%
UBA	34.60	+0.05	+0.14%
First HoldCo	25.90	+0.25	+0.97%
Guaranty Trust Holding	69.00	-0.05	-0.07%
Sterling Bank	5.700	-0.350	-5.79%
Dangote Cement	440.00	0.00	0.00%

Looking for Black Swans in September

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