September was an unseasonably strong month for the market, with the S&P 500 index, which measures overall market performance, ending the month up 2.02%. Trading volumes for Charles Schwab Corporation, a full-range securities services provider Shu However, the platform has declined.
What happened: According to Charles Schwab’s Monday announcement, the Schwab Trading Activity Index (STAX) fell from 53.15 in August to 47.10 in September. STAX is calculated using a sampling method, pulling data from the company’s customer base of millions of funded accounts, including those that completed transactions during the month.
This index shows what traders were doing during the month and where they were in the market.
The company said September’s figure of 47.10 would rank as “moderately low” when compared to historical averages.
What triggered the trading action: Investor actions were either active or passive in preparation for a number of economic indicators that fell during the month. “There was no shortage of economic indicators impacting markets in September, and Schwab clients responded in kind by avoiding risk and seizing profit opportunities,” said Joe Mazzola, head trading derivatives strategist at Charles Schwab. said.
Charles Schwab clients were largely optimistic about economic activity, with markets pricing in the Federal Reserve’s aggressive stance.
The company highlighted the discrepancy between market performance and STAX scores, calling it one of the largest discrepancies in its analysis history. “The extent of September’s interest rate cuts surprised many,” the paper said. “When combined with all the other economic data swirling that month, it seems likely that even as markets soared, there was some customer withdrawal.” Of course,” he said.
SPDR S&P 500 ETF Trust spyETFs, exchange-traded funds that track the S&P 500 Index, started September on a negative note, but bottomed out at $547.71 (intraday) on September 9th and $538.71 (closing price) on September 6th. I did. The ETF has since rebounded, ending the month at an all-time high. The all-time high was $573.76.
Source: Benzinga Pro Data
See also: Best Value Stocks
The S&P 500 and Dow Jones Industrial Average also hit record highs in the final session of September, closing at 5,762.48 and 42,330.15, respectively. On an intraday basis, these two indices hit a record of 5,767.37 on September 26 and 42,628.32 on September 27.
The tech-heavy Nasdaq Composite Index ended September at 18,189.17, its highest level in two and a half months, but fell short of its all-time closing high of 18,647.45 (July 10). The index’s intra high price was 18,671.07 (July 11).
Stock statistics: Popular stocks bought by Charles Schwab clients included early entrants to artificial intelligence and underperforming chip stocks. Meanwhile, the company’s clients were net sellers of some hot tech stocks, telecommunications companies and several China-based companies.
Rising stock Nvidia Corp. NVDA
Palantir Technologies Co., Ltd. PLTR
Intel Corporation INTC
Alphabet Co., Ltd. google google
Microsoft Corporation MSFT
Tesla, Inc. stock has fallen out of favor. TSLA
Advanced Micro Devices Company AMD
Alibaba Group Holdings Co., Ltd. Baba
AT&T Corporation T
Nio Co., Ltd. Nio
Intel, an underperforming semiconductor stock, rebounded somewhat in September amid rumors of a stock sale and spinoff. The stock was up more than 6% at the end of September. The interest in Palantir is not surprising given the retail industry’s interest and the company’s S&P 500 index membership.
Interestingly, Meta Platforms, Inc. metawas a popular stock in October, but it wasn’t in Charles Schwab’s top six most bought stocks.
Traders were net sellers of Alibaba and Nio in September, and these two stocks have continued to rise since China announced its economic stimulus package in late September.
SPY ended Friday trading up 0.91% at 572.98, according to data from Benzinga Pro.
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