PUT IN WORK (9/2/2024)

It’s been a while, and even though it’s Labor Day and markets are closed today, here’s a quick issue briefly discussing some upcoming events to look forward to! Stocks have been steadily rising for the last few weeks—save the previous week—and investors are trying to push the market to new heights once again. The Nasdaq (QQQ) and the S&P 500 (SPY) may have had a red week just last week, but those prior saw sizable gains.

While this upcoming week is relatively light on earnings, investors will be on the lookout for, primarily, Friday’s jobs report, which some are claiming to be a “huge” factor in the market’s short-term performance. Many believe that the results of this upcoming report will determine whether rates are cut by a quarter or half a percent during the September Fed meeting, which will take place in just a few weeks on September 17th and 18th. Ideally, investors are looking for a quarter percent cut rather than a half percent cut, presumably due to the fact that a quarter percent is an indication that things are going according to plan, while a half percent will be seen as a sudden economic redirection.

In short, keep an eye out this Friday—things may get interesting. As for those aforementioned earnings, naturally, no earnings will occur today, but they will occur for the rest of the week. Companies such as Broadcom (AVGO), Nio (NIO), and Zumiez (ZUMZ) will report later in the week.

(Nasdaq ETF (QQQ) price from August 2023 - 2024 — each candle is 1 week. Chart provided by tradingview.com.)

PORTFOLIO UPDATE

The stock market has been fairly volatile recently, and our portfolio continues to reflect that volatility. The majority of our stocks have fallen in line with the market over the last few weeks, with some outliers in both directions. We plan to hold all currently owned stocks for the foreseeable future. As always, thank you for reading, and happy investing.