MARKET WRAP

Stocks closed out the month and quarter in the green today.

And it was a September to remember for the markets, getting off to a rough start but then rallying to record highs, with the S&P closing out the best September since 2019.

For today’s session, the Dow and S&P posted records, the Nasdaq up 0.38% and the Russell 2000 was up 0.04%.

Health care was the top sector up around half a percent, while materials was down three quarters of a percent.

Apple, FedEx and CVS were among the best-performing stocks on the day, all up more than 2%.

MRKT MATRIX: September 30, 2024

Today’s Top Stories:

• S&P 500 posts record close on Monday to cap winning month and quarter (CNBC)

• Powell indicates further, smaller rate cuts, insists the Fed is ‘not on any preset course’ (CNBC)

• The Stock Market Isn’t All About AI Anymore (WSJ)

• China Markets Surge in Wild End to the Quarter (WSJ)

• Stellantis Cuts Forecasts in Further Blow to Besieged Carmakers (Bloomberg)

• A Dockworkers Walkout Would Close Ports From Maine to Texas and Slam the U.S. Economy (WSJ)

• Qualcomm Bets on AI to Knock Intel From PC Perch (Bloomberg)

• China Urges Local Companies to Stay Away From Nvidia’s Chips (Bloomberg)

Today’s On The Tape is Presented by CME Group, iConnections and SoFi

China Chatter and a Conversation with Vincent Daniel

Guy Adami, Dan Nathan, and Liz Young Thomas dive into the final Monday of September discussing the latest financial trends and market movements. They touch on China's economic stimulus efforts and its implications on global markets, particularly the S&P 500. Elizabeth provides insights into how China's actions could affect different sectors within the S&P and highlights the broader economic impact of China's growth targets. The gang also explore the performance of ETFs like FXI and delve into sector-specific stock analysis, including semiconductor stocks and consumer discretionary names like Nike. Looking ahead, they discuss the potential outcomes of the impending U.S. jobs report and its significance for market volatility, especially in light of the upcoming election cycle.

After the break, Dan, Guy & Danny are joined by Vincent Daniel to discuss economic developments in China to the stimulus package and its impact on commodities, notably uranium (31:00). They discuss the high-profile investor David Tepper's bullish stance on China and explore the broader implications of global economic strategies. Vinny shares his experiences and observations from recent trades, highlighting sectors like housing, consumer credit, and energy. The trio also delves into the AI-driven demand for energy and the evolving market for precious metals like gold and silver amidst shifting central bank policies.

Subscribe to the RiskReversal YouTube Channel and drop a comment/like to show your support

Want to check out past podcast episodes? Go to wherever you get your podcasts and type in “RiskReversal Media”

We want to hear your feedback! Reply to this email with any comments or questions