The stock market took a hit for the first time in a while, following the indication of a small increase in the FED’s short-term interest rate projections, as well as plans to reduce monthly asset purchases. The resurgence of rising-rate concern prompted the market's first 5-percentage-point drop in a year. Additionally, a potential US government shutdown, the fate of a bipartisan infrastructure bill and a standoff over the US’ debt ceiling were also market catalysts.
September turned out to be the worst month for the major indexes since the pandemic-driven crash in March 2020. Inflation, fiscal policy, supply chain difficulties, COVID-19, and signals of slowing GDP in China, to mention a few top-of-mind concerns, have investors baffled. The market's sluggishness this month is suggestive of a market searching for guidance in the dark.
One Signal once again outperformed its benchmark index this week. The S&P 500 closed the week with -2.20%, One Signal Xpress delivered -1.43% and One Signal Xpert +0.13%.