Market Recap – September 18th
On Monday’s trading day, markets stayed fairly flat as investors continued to digest new information ahead of the Federal Reserve interest rate decision on Wednesday. Before the decision and remarks by Fed Chairman Jerome Powell, there most likely will be muted movement across broader markets as investors continue to anticipate what becomes of the federal funds rate this month and in November. For the main indices, the S&P 500 grew 0.07%, the NASDAQ Composite went up 0.01%, and the Dow Jones rose 0.02%. New public company Arm Holdings had major price movement across Monday’s trading day, however, finishing lower by 4.53%. After debuting last Thursday, the chip designer soared over 25% from its IPO price, with several critics stating it is far too early to value the smartphone designer too high. Also in the red was the pharmaceutical company Moderna, plummeting 9.12% after reports of weak Covid-19 vaccine demand expected during the second half of this year.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.