pino428 @pino428: "𝘿𝙚𝙖𝙧 𝘾𝙤𝙥𝙞𝙚𝙧𝙨 𝙖𝙣𝙙 𝙛𝙤𝙡𝙡𝙤𝙬𝙚𝙧 𝙬𝙚𝙡𝙘𝙤𝙢𝙚..."

Italy

𝘿𝙚𝙖𝙧 𝘾𝙤𝙥𝙞𝙚𝙧𝙨 𝙖𝙣𝙙 𝙛𝙤𝙡𝙡𝙤𝙬𝙚𝙧 𝙬𝙚𝙡𝙘𝙤𝙢𝙚 𝙗𝙖𝙘𝙠. The markets opened the month of September with a negative performance, confirming the traditional seasonal weakness. September is traditionally the worst of the year for the stock market. The Nasdaq lost 5.70%, the S&P 500 3.70% and the Dow Jones 2.65%." The semiconductor index fell by 7%, and Nvidia, which wiped out 300 billion in capitalization, contributed strongly to this decline—a historic record for a single company. During September, the SPX500 posted gains in only 42 of the last 95 years, while it posted losses in 53 of those years. In addition to seasonality, the possible rate cut by the FED and the presidential elections will also be added this year. This could push up volatility, resulting in sudden market movements. This week, all eyes were on the world of job, with data that is slowly worsening and suggesting a slowdown in economic activity: JOLTS JOB OPENING (JUL) 7.673M vs 8.090M CONTINUING JOBLESS CLAIMS 1.838K VS 1.870 K INITIAL JOBLESS CLAIMS 227K VS 231K NON FARM PAYROLLS (AUG) 142k vs 164k UNEMPLOYMENT RATE (AUG) 4.2% VS 4.2% 𝙂𝙀𝙍𝙈𝘼𝙉𝙔 Manufacturing output plunged in July 2024, with most sectors experiencing significant declines. The automotive industry, in particular, dealt a severe blow to overall performance, plummeting by 8.1% month-over-month. The production of electrical equipment (-7%) and fabricated metal products (-3.8%) also contracted, contributing to the overall decline. Industrial production, excluding energy and construction, fell by 3.2% in July compared to the previous month. Capital goods production took the hardest hit, decreasing by 4.2%. Intermediate and consumer goods also experienced declines of 2.8% and 1.2%, respectively. Beyond industry, energy production dropped by 1.9% in July. However, construction activity saw a slight uptick of 0.3%. Meanwhile, German exports increased by 1.7% in July 2024, while imports surged by 5.4% compared to the previous month. Business sentiment in Germany deteriorated in August, as the Ifo Business Climate Index slipped from 87.0 to 86.6. Companies reported worsening current conditions and expressed more pessimistic outlooks. Warning signs are coming from Volkswagen and other European auto giants, including Stellantis and Renault, which are struggling with high labour and energy costs, as well as growing competition from lower-cost Asian rivals. Volkswagen, faced with the urgent need to slash costs by an unprecedented 10 billion euros, is contemplating a radical move: shutting down factories in Germany and revoking job guarantees at six of its domestic plants. This unprecedented step underscores the severity of the automotive giant's challenges as it navigates a rapidly changing industry landscape. 𝙋𝙊𝙍𝙏𝙁𝙊𝙇𝙄𝙊 Even though the indices fell, not all sectors had the same fate. Indeed, the more defensive sectors performed well and closed the week positively. E.g. $XLRE +0.50%, $XLP +1.01 , $TLT +1.97% $XLU -0.17%. This helped us to reduce the drawdown of our portfolio. Furthermore, the possibility of a market retracement will give us the possibility of being able to make new purchases on the stock market. Below is a summary of dividend we will receive in September Thank you for your support.

4 Mentioned

XLRE

Real Estate Select Sector SPDR

XLP

Consumer Staples Select Sector SPDR

TLT

iShares 20+ Year Treasury Bond ETF

XLU

Utilities Select Sector SPDR