In general terms, September was slightly positive, with gains on Wall Street of around 1.5% for the S&P500 and Dow Jones, while techs were less in demand by the Bulls and are in very similar territory to from the beginning of the month. Much of this dissonance in behaviour is due to the issue of trade war, with much of the industry being hit hardest by the climate of conflict and constraints that already affect and will further condition US business relations with some of the its largest buyers and suppliers, which are Chinese companies.
Photo by Markus Spiske.
There are several interesting data that come from analysing global market behaviour, but I want to highlight two of them. The issue of greater appetite for value companies, which valued more than 4% (Russell 1000 Value ETF), while those more focused on growth (Russell 1000 Growth ETF), stood for only 0.21% growth, the which denotes a clear interest in some security, something that was also evident in the gains made by retailers of essential goods and utilities products. Another very interesting fact was the fact that financials registered the best record of all sectors with an appreciation of over 6% in the XLF (sector ETF in the S & P500), this in a month when FED interest rates fell, which should not be benign for the sector as it takes profit from it. This result may stem from an adjustment in investor sentiment about interest rates over the next 18 months, which may now not be as dovish as was expected at the end of August.
