September 16: Market Summary

Why tomorrow could be volatile…


Markets

Here are today’s market moves:


What Happened?

  • The S&P 500 fell while the Nasdaq climbed higher on Thursday, as retail sales data came in better than expected.

  • U.S. retail sales rose 0.7% in August, a sign that the economy is recovering despite the spread of Covid.

  • Tomorrow is “quadruple witching day,” the simultaneous expiration of U.S. options and futures contracts, a market event that sometimes causes volatility.

  • Some investors believe stocks may be due for a further pullback after climbing throughout 2021.

  • The crypto market fell on Thursday, with Bitcoin trading just below $48k, as Bitcoin consolidates below the key $50,000 level.


Catch Up

  1. Ray Dalio says if Bitcoin is really successful, regulators will kill it.

  2. Apple launches iPhone 13 with camera, chip, and screen upgrades.

  3. Microsoft announced a new $60 billion share buyback program and raised its quarterly dividend by 11%.


What Else?