Broker Check
Sideways Trading Range

Sideways Trading Range

September 12, 2023

Last week the stock market was down modestly and seems to be in a trading range in the absence of a catalyst to give it momentum in either up or down. The market moves in a sideways manner to regroup, for the economic fundamentals to catch up with current prices, and for investors to assess their positions.

This week there will be two inflation reports released which could influence the stock market. It may take a big surprise in the reports, to the upside or downside, to move this market in a meaningful way. After over a year of inflation reports that have been generally in line with expectations, investors have begun to place less emphasis on them.

Next week’s federal reserve meeting and the decision of whether to raise interest rates may also be a catalyst to move the market this month. While corporate earnings in October may impact the market more as investors look beyond the inflation crisis of 2022 to how corporations will fair as 2024 fast approaches.

Photograph by: Damon Lam on Unsplash´╗┐

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