Stock Market Update - 9|17|23
Last week was not a great week for the stock market. On Friday, we also saw triple witching (stock options, index options and futures) expiration for the quarter. Hence, stocks were pulled down. Semiconductor stocks were slaughtered on the rumors that Taiwan Semi (TSM) is telling the vendors to slowdown their supply. That created fear among investors that chips demand may be slowing. I don’t know how far this rumor is true!! However, this could also be a plan of big fishes to bring down the market on a triple witching day for their gain!! Federal Reserve FOMC meeting is scheduled for this week, September 19-20. Per current survey, 97% believe that Fed will pause rate hike this month. In other words, no interest rate hike. The consumer price index ( CPI ), rose a seasonally adjusted 0.6% for August, and was up 3.7% from a year ago, Economists were looking for respective increases of 0.6% and 3.6%. Is this the start of another wave higher inflation? That’s the big fear i...