How the Major Indexes Performed in September and Q3

The Nasdaq Composite was the big gainer among the t♔hree major indexes in September, rising 2.7%. Each of the indexes recovered from steep selloffs recorded duri𝔉ng the first week of the month.

For the third quarter, the Dow Jones Industrial Average turned in the best performance, rising 8.2%.

Biggest S&P 500 Gainers on Monday

Advancers

• Amentum Holdings (AMTM) shares skyrocketed 25.6%, notching the top performance in the S&P 500 as the stock marked its first day of trading and its debut on the benchmark index. Amentum stock hit the market after the completion of its spinoff from the engineering and construction firm Jacobs Solutions (J). The newly independent public company focuses on government services.
• It was also a strong trading day for Solventum (SOLV), the health care supplier that completed its separation from 3M (MMM) in April. Solventum shares added 3.2% following reports that the company is exploring the possibility of moving its headquarters to a former Blue Cross Blue Shield site in Eagan, Minnesota, counteracting speculation that the company might exit the state.
• Shares of Generac (GNRC). a provider of home generators and emergency power solutions, were up 2.6%, adding to 澳洲幸运5官方开奖结果体彩网:gains posted late last week after Hurricane Helene caused devastating impacts across several states. Other storms in the past, including Hurricane Beryl earlier this year, have contributed to similar upticks in Generac's share price.
• CVS Health (CVS) shares added 2.4% following reports by The Wall Street Journal that the hedge fund Glenview Capital intends to meet with representa🦩tives of the pharmacy giant to suggest strategies for improving its op🧜erations.

Decliners

• Following a protracted labor dispute, workers at ports on the Gulf and East coasts reportedly plan to go on strike starting at midnight. The pending labor action pressured shares of companies that depend on the ports to receive critical goods. Shares of discount retailer Dollar Tree (DLTR), which imports a significant percentage of its merchandise, fell 3.8%, the steepest loss of any S&P 500 stock.
• Shares of cosmetics retailer Ulta Beauty (ULTA) fell 3.7%. Although the stock posted strong gains last month after Berkshire Hathaway (BRK.A) revealed a 澳洲幸运5官方开奖结果体彩网:stake in the company, analysts say Ulta faces a difficult competitive environment and a post-pandemic normalization in demand.
  

• Shares of carmakers came under pressure on Monday after Jeep manufacturer Stellantis (STLA) 澳洲幸运5官方开奖结果体彩网:reduced its 2024 profit guidance, citing soft global demand and competition in China. Stellantis shares plunged 12.5%, while shares of General Motors (GM) lost 3.5%. 

S&P 500 is Having Its Best Start to a Year This Century

Stocks defied the odds in September, ticking up to trade at record highs despite the month's reputation as a notoriously rough patch for equities.

The S&P 500 rose 5.5% in theꦉ third quarter, putting the index up nearly 21% in the first three quarters, its best year-to-date performance of the 21st centu🎃ry.

 But it was a tumultuous 🅰three months. In July and August, stocks recorded some of their best and worst days in years as investors grappled with recession fears and uncertainty about interest rates.

Equities were given a lift in September by the 澳洲幸运5官方开奖结果体彩网:Federal Reserve, which joined the ranks of global central banks easing monetary policy when it 澳洲幸运5官方开奖结果体彩网:cut interest rates—by 50 澳洲幸运5官方开奖结果体彩网:basis points—for the first time in four years. The cut, according to officials, was a preemptive step to support the labor market, which data suggests 💜is cooling but not falling apart.

The fourth quarter is historically a strong one for stocks, and analysts—despite noting the likelihood of elevate🌼d volatility—are broadly optimistic about the outlook. 

Read the 澳洲幸运5官方开奖结果体彩网:full article here.

-澳洲幸运5官方开奖结果体彩网:Colin Laidley

CVS Rises After Report of Activist Pressure

CVS Health (CVS) shares rose Monday, leading S&P 500 gainers, following a report that major investor 澳洲幸运5官方开奖结果体彩网:hedge fund Glenview Capital Management was planning to hold a meeting with executives of the pharmacy and health care firm about making changes to its ope꧙rations.

The Wall Street Journal said the move could potentially be the start of an 澳洲幸运5官方开奖结果体彩网:activist investor intervention against CVS, which has struggled because of higher expenses, lower reimbursements, and changing 🧸cons🏅umer habits.

Shares of CVS were up 2.5% Mo🐈nday afternoon but have lost about 20% of their value this year.

In August, CVS slashed its full-year earnings outlook, and CEO Karen Lynch announced a $2 billion cost-cutting plan by "further streamlining and optimizing our operations and processes, continuing to rationalize our business portfolio and accelerating the use of artificial intelligence and automation."

The Journal also reported that as part of that effo⛎rt, CVS advised employees today that it would be implementing layoffs, representing less than 1% of the workforce.🏅

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Bitcoin Levels to Watch as Price Slides After Strong Month

Bitcoin (BTC) lost ground Monday, giving back some of the gains posted during what꧒ 🃏has been a positive month for the legacy cryptocurrency.

Gains in recent weeks have been driven in part by the Federal Reserve's first interest rate cut in four years and the announcement by Chinese authorities of wide-ranging economic stimulus measures. Despite Monday's decline, bitcoin is still up about 8% since the start of September, a month when its performance typically lags.

Since bottoming out towards the lower trendline of a multi-month descending channel, the cryptocurrency’s price has staged an impressive rally to the pattern's opposing trendline, reclaiming the the 200-day moving average in the process.

Investors should monitor key overhead price levels on bitcoin's chart around $68,500, $72,000, and $97,000, while watching the $60,600 area during retracements.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

These 5 Stocks Could Benefit From Rising Power Demand

Bank of America is predicting a big jump in electrical demand—with ✨some power ♑companies better-positioned to capitalize than others.

The bank said the utilities it sees as benefiting the most from regional growth are DBA Sempra (SRE), Pinnacle West Capital (PNW), TXNM Energy (TXNM), Entergy (ETR), and Northwestern Energy Group (NWE). The analyꩵsts have buy ratings on all five stocks.

BofA ana❀lysts wrote in a note to clients that after two decades of stagnant electricity demand expansion, “there is now evidence that demand growth has returned, driven by the re-shoring of industry, the development of data and crypto mining🥂 centers and the electrification of buildings, transportation, and infrastructure.”

The analysts said that they have targeted those five companies because the regions they cover— Texas, the Southwest, the Northwest, and the 14 states in th🔯e Southwest Power Pool—are likely to have the greatest growth rates. Shares of all five are higher year-to-date.

-澳洲幸运5官方开奖结果体彩网:Bill McColl

Gold Price Levels to Watch After Record Highs

Gold futures were down about 0.5% Monday morning, after hitting record highs lat💧e last week above $2,700 an ounce.

The Federal Reserve’s 澳洲幸运5官方开奖结果体彩网:jumbo half-point rate cut earlier this month contributed to recent bullish momentum, and gold received an additional boost last week from China announcing significant stimulus measures and rate reductions in a bid to revive its sluggish economy. ꦜMeanwhile, escalating conce🍒rns of a broader conflict developing in the Middle East have also underpinned support for the metal.

The precious metal has moved sharply higher after breaking out from a rectangle in July, a chart🌸 formation that indicates a continuation🐻 of the commodity’s strong uptrend.

Investors should monitor price targets on gold's chart projected using the measuring principle and bars pattern at $2,862 and $3,195, respectively.

During retracements, investors should watch the $2,414 level that may attract buying interest near the rectangle formation's top trendline.

Read the full 澳洲幸运5官方开奖结果体彩网:technical analysis piece here.

-澳洲幸运5官方开奖结果体彩网:Timothy Smith

U.S.-Traded Chinese Stocks Extend Rally

Chinese stocks surged again Monday morning, extending a rally that kicked off last week following news that authorities in Beijing were launching a wide-ranging eco👍nomic stimulus program.

The Nasdaq Golden Dragon China Index (HXC), an index of 64 China-based companies traded in the U.S., was up more than 6% early Monday, as conglomerate Alibaba Group Holding (BABA), PDD Holdings (PDD), parent of online marketplace Temu, and online retailer JD.com (JD) all moved higher.

The iShares MSCI China ETF (MCHI), which gained 20% ꧑last week, was up another 3% on Mondaไy.

Stellantis Plunges as Chrysler Parent Cuts Outlook

Stellantis (STLA) shares plunged in premarket trading after the Chrysler and Jeep parent issued a profit warning, noting it is cutting excess North American inventory amid a "dete🎃rioration in global industry dynamics" and competition from Chinese rivals.

The company said its fiscal 2024 adjusted operating income margin now is expected to be between 5.5% and 7.0%, versus its previous projection for "double digit" levels, with about two-thirds of the reduction "driven by corrective actions in North America."

St🔜ellantis shares were down 13% in premarket trading, at around $14, trading at their lowest level since late 2022.

Shares of rivals General Motors (GM) and Ford Motor (F) were each down more than 3% in premarket ꦇtrading.

-澳洲幸运5官方开奖结果体彩网:Nisha Gopalan

Futures Point to Lower Open for Major Indexes

Futures ti🐓ed to the Dow Jones Industrial Average were down 0.1%.

S&P 500 futures were down 0.2%.

Nasdaq 100 futures were off 0.4%.