Yeah, so my predictions were flipped, again. That was my bad and I promise you guys, it will be better this week. As for the market, it was a mixed week. After a really good one last week, indexes fluctuated a lot and showed a lot of resilience but eventually dipped to end the week in red. However, the market will most definitely have all three indexes in the green for September and considering that it is not usually a great month, all green is a great sign. The markets continued to process the rate cut(I know it’s getting old but this is the market we are talking about; they don’t tend to move on quickly) and the stronger economic data made the possibility of more aggressive rate cuts lower, leading to the market going down a bit. At this point, I do not know whether they care more about the actual market or the interest rates. Some of this economic data was a revision of the GDP( for the third time) and it went up by 3.8%. I wouldn’t be surprised if they revise it again. The US Core PCE Index was released on Friday and it showed a 0.2% rise in August with the year over year rate holding at 2.9%. These numbers are pretty high and are probably going to decrease chances for another rate cut soon. Our President also released a set of new tariffs, this time on kitchen cabinets and upholstered furniture, leading to a bunch of those stocks going down. Yeah, so if you are planning on renovating, hold up on that for a bit. Now, let’s get to the prediction section. Because of the upcoming jobs report next week, a poor or good result are both liekly going to result in the market falling. A poor result is well, bad, and a good result means that a rate cut probably isn’t happening any time soon. We are in a lose-lose situation, and this volatitility is gonna make the entire market super difficult to predict, and I cannot pinpoint just one faller, so we are gonna stick just to one stock that I believe will rise.
Riser
Nike– Nike is reporting earnings on Tuesday and a strong report centered around good inventory management and consumer spending could make this stock shoot up. Typically, good earning reports give Nike a really good short term boost, and it wouldn’t be crazy to predict another rise for them.
Market Memo 