The third week of September lifted the S&P 500 to new all-time highs
The third week of September lifted the S&P 500 to new all-time highs yet indexes only managed to
close the trading week red, that after a pullback on Friday, mostly due the another chill vibe
between the US and China on the trade negotiations,
US President Trump was quoted saying that he
doesn't really need to seal the deal by 2020 elections time and the Chinese negotiating team
left the US earlier than expected, cutting their US farms visit short.
Ahead of that Trump lifted tariffs on some imports, letting investors know that he is not playing only hardball.
The FOMC meeting outcome failed to impress the markets either way Wednesday, following a flat statement that left president Trump disappointed and the outcome having no impact on the markets or the US dollar.
The release of the new I-Phone 11 was met will very little enthusiasm, AAPL share price lost 1.5% Friday as investors see little to no buzz from consumers.
On the positive side, the strong performance from the US economy is reflected in the indexes, all closing the week near all-time highs, with no US China trade deal in sight yet.
EU and Asian markets traded higher across the board, supported by the lower interest rates and dovish central banks decisions in the EU and China.
Metals spent the trading week mostly sideways, reversing from weekly lows after the Fed decision and blur near term dollar path. and jumping 1% on average Friday.
Gold closed the trading week at $1,515 per ounce and Silver closed at $17.8 per ounce.
The attacks on the Saudi refining infrastructure last Saturday sent Oil prices spiraling nearly 18% however the reassurance of steady supply quickly reversed path and Oil prices traded lower $5 from weekly highs to close just above $58 per barrel.
As markets push towards the last week of September and earning s for the 3rd quarter are around the corner, increase in volatility is what experts are looking for come October, historically up 25% in volatility versus September.