{"id":53883,"date":"2023-08-28T08:45:09","date_gmt":"2023-08-28T12:45:09","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/historically-stormy-month-of-september-may-test-us-stock-rally\/"},"modified":"2023-08-28T08:45:12","modified_gmt":"2023-08-28T12:45:12","slug":"historically-stormy-month-of-september-may-test-us-stock-rally","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=53883","title":{"rendered":"Historically stormy month of September may test US stock rally"},"content":{"rendered":"
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\u00a9 Reuters. FILE PHOTO: The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. REUTERS\/Brendan McDermid\/File Photo<\/span>
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By David Randall<\/p>\n

NEW YORK (Reuters) – U.S. stock investors are bracing for a potentially volatile September as the market faces key economic data reports, a Federal Reserve meeting and worries over a possible government shutdown during a month of historically muted equity performance. <\/p>\n

In Septembers since 1945, the has declined an average of 0.7%, the worst performance of any month, according to CFRA.<\/p>\n

Recent weeks have been volatile. The S&P 500, which is up nearly 15% this year, has retreated more than 4% from its July 31 high as investors reacted to weakness in China’s economy and a surge in Treasury yields that threatens to make equities less attractive.<\/p>\n

The market is “coming up on a number of key inflection points at a time when the market is still on edge given the rise in rates,” said Jack Janasiewicz, portfolio manager and lead portfolio strategist at Natixis Investment Manager Solutions.<\/p>\n

The U.S. non-farm payrolls report kicks off the month next Friday. A hotter than expected employment reading for August would likely revive inflation concerns, while a much weaker number could fuel worries that the Fed\u2019s interest rate hikes are starting to crack the economy, Janasiewicz said. <\/p>\n

Consumer price data due on Sep. 13 needs to walk a similar tightrope to satisfy investors. The Fed\u2019s monetary policy meeting on Sep. 20 stands as another potential source of volatility: Friday\u2019s speech from Fed Chairman Jerome Powell in Jackson Hole fueled expectations of another rate increase this year, though a move in September was seen as less likely.<\/p>\n

“It’s looking like a time to sell the offense and buy the defense if you think that September is going to be a little more volatile than normal,” said Sandy Villere, a portfolio manager at Villere & Co, who has been moving into healthcare stocks such as Pfizer <\/span><\/span> (NYSE:) and Abbott Laboratories <\/span><\/span> (NYSE:). <\/p>\n

Investors will also watch what happens with roughly $82 billion worth of student loans held by the government whose payments will begin in October. This could sap consumer spending ahead of the holiday shopping season. <\/p>\n

Meanwhile, a feud over spending cuts between hardline and centrist Republicans in the U.S. House of Representatives raises the risk that of a fourth federal government shutdown in a decade if lawmakers cannot reach a deal by Sep. 30, when funding runs out with the end of the current fiscal year.<\/p>\n

A government shutdown stands to directly reduce U.S. economic growth by around 0.15 percentage points for each week it lasts, analysts at Goldman Sachs wrote this week. <\/p>\n

Of course, bullish stock investors have largely been rewarded for looking past potential pitfalls this year. The S&P 500 rallied despite the regional bank crisis in Feb., concerns over a debt default in June, and fear that the Federal Reserve’s most aggressive pace of interest rates hikes since the early 1980s will push the economy into a recession and derail corporate earnings growth.<\/p>\n

Some investors believe further gains could come from a resilient economy and continued excitement over the business potential of artificial intelligence, fanned this week by chip maker Nvidia\u2019s strong earnings report and $25 billion stock buyback announcement. <\/p>\n

Tim Hayes, chief global investment strategist at Ned Davis Research, expects a relief rally in September. The August decline looks similar to the 6% fall between Feb and March of this year which relieved “excessive optimism” and set the market on course for more gains, he said. <\/p>\n

“The correction started on the first day of the month, and now it has corrected the conditions that made it vulnerable,” Hayes said. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. FILE PHOTO: The Wall Street entrance to the New York Stock Exchange (NYSE) is seen in New York City, U.S., November 15, 2022. REUTERS\/Brendan McDermid\/File Photo By David Randall NEW YORK (Reuters) – U.S. stock investors are bracing for a potentially volatile September as the market faces key economic data reports, a Federal […]<\/p>\n","protected":false},"author":1,"featured_media":1552,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-53883","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nHistorically stormy month of September may test US stock rally | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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