We are off to a weak start to this final week of September, following an
uptick in tensions between the US and North Korea, with the majors slightly
lower at midday. It has been a solid September as the major indices hit all-
time highs, so bulls are hoping that we can shrug off today's slide and
close out the week with a win. September can historically be a "rough and
tumble"month, but this one has been pretty good. This bodes well for
October, which is another historically tough month for the stock market.
Economic news is light today, and we saw the Chicago Fed's national activity
report fall 0.31 for August versus July's 0.03 increase. This is not a big
report, but it is yet another one of the "so-so" numbers that continue to
appear. We do get the second quarter GDP number on Wednesday, and economists are looking for a 3.1% reading compared to the previous 5.0% reading. GDP has frustrated many bulls this year, so topping this number could be a "motivator" for investors to push the market back to all-time highs. Stay
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.