Daily Chart Report ? Friday, September 2nd, 2022
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Today’s Summary
Friday, September 2nd, 2022
Indices: Russell 2000 -0.72% | Dow -1.07% | S&P 500 -1.07% | Nasdaq 100 -1.44%
Sectors: Energy was the only sector that closed higher, rising +1.83%. Communications lagged, dropping -1.90%.
Commodities: Crude Oil futures rose +0.74% to $87.25 per barrel. Gold futures gained +0.78% to $1,723 per ounce.
Currencies: The US Dollar Index was essentially flat (-0.02%).
Crypto: Bitcoin fell -0.98% to $19,921. Ethereum slipped -0.84% to $1,573.
Interest Rates: The US 10-year Treasury yield fell to 3.193%
**Reminder the US Stock Market & Bond Market will be closed on Mondy, September 5th for Labor Day, have a great long weekend!**
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 by Bespoke (@bespokeinvest). The chart shows the annual performance of a traditional 60/40 Stocks/Bonds portfolio over the past 45 years. The S&P 500 is down -17.7% YTD, marking the 4th worst start to a year ever. To make matters worse, Bonds are having their worst year....ever. The whole purpose of a 60/40 portfolio is to have exposure to Bonds in order to cushion stock market volatility, but that's clearly not the case this year. Bespoke points out that this has been the worst start to a year for the 60/40 portfolio since 1976. Most long-term investors have never seen this sort of carnage. Will 2022 have a lasting impact on investors' risk appetite in the coming years?
Quote of the Day
"I hate the weekends because there is no stock market"
- Rene Rivkin
Trendlines Over Headlines
https://youtu.be/idvh1VP-N6A
The latest episode of Trendlines Over Headlines is here! In this week's episode, John Roque of 22V Research returns to the show to help us make sense of the current market environment. He shares his perspective on, the S&P 500, Energy Stocks, The Dollar, Credit Spreads, Inflation, and more!
Top Links
Wake Me Up When September Ends - HoneyStocks Charting
Sam McCallum highlights several important technical developments to keep an eye on this month.
Equity Markets in 'Retest Mode' After Rally and June Lows: Technical Analyst - BNN Bloomberg
In this clip, Todd Sohn of Strategas Research offers his thoughts on the current market environment.
Inside Tech It's Really AAPL vs. MSFT - StockCharts.com
Julius de Kempenaer examines the rotation within the Technology sector.
Are Bonds A Bust Again? - All Star Charts
Ian Culley examines the outlook for Bonds.
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Top Tweets
You’re all caught up now. Thanks for reading!