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Big Moves By Fed And China, Plus The Election, All Bode Well For Q4

Posted on , updated on by TOVA Wealth

Week Ahead Market Commentary – September 30, 2024

Micron & China Ignite The Markets

Last week, we saw the release of a string of key economic data – including the all-important Core PCE (Personal Consumption Expenditures Price Index) – and the data is all supportive of higher equities and lower yields. But what really impacted stocks around the world was the earnings report and outlook for memory chips from Micron (MU), which ignited the semiconductor stocks and technology overall. Then, in a highly uncharacteristic move, China came out publicly with a bazooka plan to stimulate the economy – and that drove its equity market significantly higher since many are underweight or even short the market.

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