Will we continue next week?
THIS week started slow but we saw a big reversal, driven by NVIDIA which made a big comeback of +12%. The S&P rose a chunky +3%. This is a very strong performance, taking into consideration that September is a quite weak month throughout a normal year.
NEXT week we will see the Fed Meeting and the market is expecting the first rate cuts, starting probably with a cut of 0.50 percentage points. Exciting times ahead!
The chart of the S&P still looks very good with a YTD increase of +18%. Like I said many times: US election years are historically good years for Wall Street. Hope the Fed doesn’t mess it up.
