Market opens lower to begin the final week of September. It has been far stronger than normal and stronger than most would have imagined considering all of the political and geopolitical issues ongoing. But that has been the case all along. Anything outside of earnings and economic growth have been sideshows for this Bull. Stocks are sliding a bit this morning as the new trade tariffs go live today; 10% on $200 Billion. China is pushing back too. But the selloff seems very orderly after huge gains last week. Talks with Canada might resume this week with a deal back on the table perhaps. Interest rates keep charging higher with a Fed hike expected on Wednesday. Oil is at a 4-year high with momentum for $80 per barrel possible. Energy stocks are running this morning. Gold was the cover story for Barron’s over the weekend, and they are positive on it. There was some more M&A over the weekend showing assets are still undervalued for long-term growth. The reshaping of the S&P sectors was completed on Friday, causing extra volatility on top of the quadruple witch. The United Nations General Assembly meets in New York this week. Global leaders will be there and President Trump is expected to speak. Keep those belts buckled. It’s going to be a mad dash to October.
Have a great morning,