"Magnificent 7" Give Markets Hope for Strong September

marketwatch2023-09-05

It was a good week for the stock market heading into Labor Day as August ended in strong fashion and Friday’s jobs report ensured a solid start to September.Investors probably don’t need to be ...

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Comments

aramis
2023-09-05
aramis
Historically Sep is a bad month for stocks. Tech already had a correction in AUG. Hope we see more upside before Oct comes. Then Christmas is a rally!
Sunshinekim
2023-09-05
Sunshinekim
I hope the rally continues cos I have Faith in all 7!
neo26000
2023-09-05
neo26000
My magnificent one PDDPDDPDDPDDPDDPDDPDD.

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Getty Images               It was a good week for the stock market heading into Labor Day as August ended in strong fas","collect":0,"end_time":0,"defaultTopTitle":"marketwatch.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"NVDA":"英伟达","TSLA":"特斯拉","AAPL":"苹果"},"translate_title":"“辉煌7”给市场带来强劲9月的希望","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"AAPL":1.1,"NVDA":1.1,"TSLA":1.1},"content_text":"It was a good week for the stock market heading into Labor Day as August ended in strong fashion and Friday’s jobs report ensured a solid start to September.Investors probably don’t need to be reminded that September is historically the worst month for stocks—the S&P 500 has fallen an average 1.1% during that month since 1928.But enough of that. Several stocks had a great week heading into the typically terrible month, and investors will be hoping the momentum can continue.Nvidia (ticker: NVDA) stock had another impressive week, climbing 5.4% to 485.09 and reaching a record closing high of $493.55 Thursday. The chip maker’s stock rallied into its hotly anticipated earnings on Aug. 23 but fell 2.3% in the two trading days after. But normal service resumed last week for the stock, which is now up 232% so far in 2023. Wall Street thinks the shares can keep moving higher into uncharted territory—analysts have an average price target of $645.29, implying a 31% upside to Friday’s closing price, according to FactSet data.Alongside Nvidia, the other members of the so-called ‘Magnificent 7’ also performed well. Apple (AAPL) rose 6.1% over the week, Netflix (NFLX) jumped 5.7%, and Google’s Alphabet (GOOGL) was 4.5% higher. Meta Platforms (META) gained 3.8%, Amazon (AMZN) climbed 3.6%, while Tesla (TSLA) stock rose 2.7%.Chip stocks in general had a strong week as Micron Technology (MU) jumped 10.5% and Intel Corp (INTC) rose 10.1%. The best-performing stock in the S&P 500 was disk-drive and flash-memory chip company Western Digital (WDC), which rose 16.4%, followed by data storage company Seagate Technology’s (STX) 14.4% jump.It was a bad week for retailers, particularly of the discount variety. Dollar General (DG) was the sharpest faller, tumbling 16% after its earnings disappointed and it cut guidance. Dollar Tree also fell 3.7%. Walgreens Boots Alliance was the second-worst performer, dropping 7.2% as the healthcare giant announced its CEO Rosalind Brewer is stepping down.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":216289806471296,"gmtCreate":1693880490826,"gmtModify":1693880495717,"author":{"id":"4117112726958172","authorId":"4117112726958172","name":"aramis","avatar":"https://community-static.tradeup.com/news/f1bcc3e41f730b83c36c171afe55d9dd","vip":1,"crmLevel":4,"crmLevelSwitch":0,"idStr":"4117112726958172","authorIdStr":"4117112726958172"},"htmlText":"Historically Sep is a bad month for stocks. Tech already had a correction in AUG. Hope we see more upside before Oct comes. Then Christmas is a rally!&nbsp;","listText":"Historically Sep is a bad month for stocks. Tech already had a correction in AUG. Hope we see more upside before Oct comes. Then Christmas is a rally!&nbsp;","text":"Historically Sep is a bad month for stocks. Tech already had a correction in AUG. Hope we see more upside before Oct comes. Then Christmas is a rally!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/216289806471296","repostId":2364391771,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":216590303084680,"gmtCreate":1693879085757,"gmtModify":1693879090144,"author":{"id":"4108879863251380","authorId":"4108879863251380","name":"Sunshinekim","avatar":"https://community-static.tradeup.com/news/4aa06f704f2b302b4af731a1567add49","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":6,"crmLevelSwitch":1,"idStr":"4108879863251380","authorIdStr":"4108879863251380"},"htmlText":"I hope the rally continues cos I have Faith in all 7!&nbsp;","listText":"I hope the rally continues cos I have Faith in all 7!&nbsp;","text":"I hope the rally continues cos I have Faith in all 7!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/216590303084680","repostId":2364391771,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":216555076051080,"gmtCreate":1693870485408,"gmtModify":1693870491077,"author":{"id":"4131703342800552","authorId":"4131703342800552","name":"neo26000","avatar":"https://community-static.tradeup.com/news/11d50ec0d6202770a8629aa7f06a5d4f","vip":1,"hat":"https://static.tigerbbs.com/4c5ceab71416b120bab4604c0754b52a","crmLevel":9,"crmLevelSwitch":1,"idStr":"4131703342800552","authorIdStr":"4131703342800552"},"htmlText":"My magnificent one PDDPDDPDDPDDPDDPDDPDD.","listText":"My magnificent one PDDPDDPDDPDDPDDPDDPDD.","text":"My magnificent one PDDPDDPDDPDDPDDPDDPDD.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/216555076051080","repostId":2364391771,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":23,"commentSize":3,"repostSize":3,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2364391771"}