For Immediate Release
Chicago, IL – October 2, 2020 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Zoom Video Communications, Inc. ZM, salesforce.com, inc. CRM, FedEx Corporation FDX, NIKE, Inc. NKE and Deere & Company DE.
Here are highlights from Thursday’s Analyst Blog:
Will October Regain Momentum After the Worst September Since 2011?
Wall Street’s five-month-long rally has halted in September, the historically worst-performing month in Wall Street. But this year it was more than that as all the three major stock indexes — the Dow, the S&P 500 and the Nasdaq Composite — tumbled 2.3%, 3.9% and 5.2%, respectively, to record their worst September since 2011.
At present, economists and financial experts are busy assessing how October will behave — will it see the continuation of a downturn and almost day-to-day fluctuations or will the month turn the wheel and put the market back in a northbound trajectory? Although no clear-cut inference can be drawn at this stage, several important factors, both negative and positive, for October are clearly visible. Let’s discuss these in detail.
Sources of September’s Volatility Persist
The factors that led to severe volatility last month are present in October too. A spike in new coronavirus cases, lack of a vaccine for COVID-19, uncertainty about the second round of fiscal stimulus despite repeated warning from the Fed and several economists, and intensifying geo-political conflict between the United States and China are all present in October.
Moreover, this is the month before the U.S. presidential election scheduled on Nov 3. Historically, stock markets have remained volatile in the month before the election. Market participants generally choose to