Daily Chart Report ? Tuesday, September 1st, 2020
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Today’s Summary
Tuesday, September 1st, 2020
Indices: US Stocks closed higher in today’s session with the Dow Jones Industrial Average gaining 216 points or 0.76%. The S&P 500 and Nasdaq both settled at fresh all-time highs, rising 0.75% and 1.39% respectively. The Russell 2000 moved higher by 1.07%.
Sectors: Materials led, gaining 2.81%. Utilities lagged, falling 1.15%.
Commodities: Crude Oil futures moved slightly higher by 0.35% to $42.76 per barrel. Gold futures inched lower by just 0.10% to $1,977 per ounce.
Currencies: The US Dollar Index gained 0.16%.
Interest Rates: The US 10-year Treasury yield fell to 0.671%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared on Twitter by Equity Clock (@EquityClock). The S&P 500 rose more than 7% last month, marking the best August for the index since 1986. As you can see, September has been the worst month for stocks over the past 20-years, with the S&P 500 falling 0.80% on average. This seasonal headwind is certainly something to keep in mind as we begin the new month. However, 2020 has been anything but “typical” so far, and the market has completely ignored its seasonal pattern. The “Sell in May & Go Away” crowd has missed out on a 24.5% gain since May 1st. Will the bears come out of hibernation this month? Or will the S&P 500 extend its monthly winning streak to six? Stay tuned!
Quote of the Day
“First, the only certainty is that there is no certainty. Second, every decision, as a consequence, is a matter of weighing probabilities. Third, despite uncertainty, we must decide and we must act. And lastly, we need to judge decisions not only on the results but on how they were made.
– Robert Rubin
Top Links
“Sell in May and Go Away” – Wasn’t the Case This Summer – NYSE
Market Maker, Jay Woods discusses the unseasonally strong price action we saw this summer, as well as what to watch for this fall.
The Next Wave – The Rotation Report
In this quick read, Aaron Jackson explains that risk appetite for newly listed companies is starting to heat up in this market environment.
Lumber Futures Have Gone Parabolic, But That Probably Won’t Last – DeCarley Trading
Carley Garner shares her technical perspective on the surge in Lumber futures.
Trends and Momentum for September! – Chaikin Analytics
Market Strategist, Dan Russo offers his thoughts on the markets heading into September.
Stocks Vs. Volatility – Round 1 – Dana Lyons
Dana Lyons weighs-in on the fact that Stocks and Volatility have been rising together in recent days.
Top Tweet
Summer 2020. $spx +21% pic.twitter.com/19dPvrR6FO
— ukarlewitz (@ukarlewitz) September 1, 2020
You’re all caught up now. Thanks for reading!