Market Snapshot 30 Sept, 23

- 📉 The S&P 500 experienced its largest monthly loss of 4.9% in September, the most significant decline since December of the previous year.

- 📊 Key inflation data, measured by the Fed's preferred PCE gauge, were released, influencing investor sentiment.

- 📈 The Dow Jones Industrial Average fell by 0.5%, the S&P 500 dropped 0.3%, and the Nasdaq Composite increased by 0.1% on the day.

- 🌐 Investors remained uncertain about whether the U.S. economy was heading towards a recession or a "soft landing" due to Federal Reserve interest-rate hikes.

- 📅 The S&P 500 faced a tough month in September, with its worst performance since December.

- 💹 Inflation data showed core prices rising by 0.1% in August, while year-over-year inflation slowed to 3.9%. However, energy prices contributed to an increase in the headline PCE price index.

- 🏦 The decline in services inflation was highlighted, potentially aligning with the Fed's goals as they approach the end of rate hikes.

- 📈 Higher long-term yields continued to exert pressure on stocks.

- 💼 Economic data included a rise in personal income and consumer spending in August, but signs of cooling consumer spending were observed.

- 📊 Analysts attributed fading stock-market gains on the repositioning of portfolios for the upcoming fourth quarter.

- 📈 Notable stock movements included Nike Inc. reporting better-than-expected earnings, Fisker Inc. announcing convertible debt offerings, and Blue Apron Holdings Inc. soaring following an acquisition deal.

- 🚗 Tesla Inc., a prominent electric-car maker, saw its stock rise ahead of expected delivery data next week.