The second installment after the National Day holiday: let’s take another look at how the three major U.S. stock indexes performed during the “seven-day holiday”:
Nasdaq: up 2.52% over the seven days, while the Dow gained only a fraction of that.
Nvidia $NVDAB hit another all-time high during the holiday, and the Nasdaq followed suit. Over the five trading days from the September 30 close to the October 7 close, the Nasdaq Composite rose 2.52%, the S&P 500 gained 1.96%, and the Dow rose just 0.54%.
The gains were uneven. On October 1, all three indexes barely moved. On October 2, U.S. nonfarm payrolls increased by just 29,000 in September, far below expectations, cooling rate-hike expectations; the Nasdaq rose 1.19% that day. The rally continued on October 5 and 6, with both the S&P 500 and Nasdaq setting fresh all-time highs.
The more heavily weighted stocks rose more. This rally was still driven by the AI-related names. On October 7, all three indexes edged lower.
I’m watching two things next: third-quarter earnings season, which kicks off on October 13—the market expects S&P 500 earnings to grow about 30% year over year in the third quarter, with AI accounting for much of the growth, so whether companies deliver will be key; and the 10-year U.S. Treasury yield, which remains above 5.3% and could weigh on valuations if it doesn’t fall. Which of these moves first will determine whether U.S. stocks keep climbing in the fourth quarter or move sideways.
The above is a summary of publicly available information and does not constitute investment advice.
#美股超话 #纳斯达克 #英伟达 $QQQB
Nasdaq: up 2.52% over the seven days, while the Dow gained only a fraction of that.
Nvidia $NVDAB hit another all-time high during the holiday, and the Nasdaq followed suit. Over the five trading days from the September 30 close to the October 7 close, the Nasdaq Composite rose 2.52%, the S&P 500 gained 1.96%, and the Dow rose just 0.54%.
The gains were uneven. On October 1, all three indexes barely moved. On October 2, U.S. nonfarm payrolls increased by just 29,000 in September, far below expectations, cooling rate-hike expectations; the Nasdaq rose 1.19% that day. The rally continued on October 5 and 6, with both the S&P 500 and Nasdaq setting fresh all-time highs.
The more heavily weighted stocks rose more. This rally was still driven by the AI-related names. On October 7, all three indexes edged lower.
I’m watching two things next: third-quarter earnings season, which kicks off on October 13—the market expects S&P 500 earnings to grow about 30% year over year in the third quarter, with AI accounting for much of the growth, so whether companies deliver will be key; and the 10-year U.S. Treasury yield, which remains above 5.3% and could weigh on valuations if it doesn’t fall. Which of these moves first will determine whether U.S. stocks keep climbing in the fourth quarter or move sideways.
The above is a summary of publicly available information and does not constitute investment advice.
#美股超话 #纳斯达克 #英伟达 $QQQB