Trending
As we sunset September, a month that bucked the historical trend, we enter the final quarter of 2024 on the cusp of a port strike, increasing geopolitical tension, Hurricane Helene fallout, potential China stimulus, and the 2024 presidential race. Following the Fed’s policy adjustment with prospects for more rate cuts in coming quarters, the market could trend higher, climbing a wall of worry, but let’s remember it’s once again overbought and its valuation is stretched even further than it was earlier this year. At times like these, it doesn’t take much to upset the market apple cart.
With investor eyes following the Fed to focus on this week’s jobs data, a stronger-than-expected September Employment Report could temper the market’s rate cut expectations. But Hurricane Helen and the potential port strike could be bad news is good news for rate cuts.
Related: Micron Earnings, New Meta Products Bring AI Back in Vogue