A Terrible Market Week Means Opportunity at Weiss Ratings
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| By Mahdis Marzooghian |
I probably don’t have to tell you what an awful week the market’s had this past week.
However, we did see stocks gain a bit heading into the last trading day of September, with the Dow Jones Industrial Average rising 116 points, or 0.4%, the S&P 500 gaining 0.6%, while the Nasdaq advanced 0.8%.
Now, the overall bad trading week was mainly due to the market having to swallow the Fed’s bitter pill of “higher-for-longer” interest rates.
Even though the Fed’s “hawkish pause” — meaning no change in interest rates, while convincing the market that higher rates were more likely in the future — took place last Wednesday, its effects on the market lasted the rest of this week.
Indeed, the Fed is determined to keep rates higher for longer, until the core inflation finally goes down to the Fed’s target of 2%. It’s currently sitting at 4.24%, up from 4.09% a month earlier.
So, the Fed hiking rates again is very likely, maybe even more than once. We’ll see if the broader market will finally accept the Fed’s stance and Friday’s gains will continue into next week or if the sell-off will resume.
As always, though, where most analysts and investors see seasons to sell and run for the hills, our experts here at Weiss Ratings see one thing: opportunity. And they’ve got a handful of them, plus some new ideas for you in their latest research. Take a look …
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Until next time,
Mahdis Marzooghian
Managing Editor
Weiss Ratings Daily
