From Seekingalpha · · 1m
Q4 Market Outlook: Strong Years Finish Strong
Q4 markets surge as Nvidia hits $5.7tn market cap.
In brief
Q4 markets surge as Nvidia hits $5.7tn market cap. Nvidia's record $5.7 trillion market value boosts Nasdaq while S&P 500 dips slightly. Originally reported by Seekingalpha.
Market Performance
The S&P 500 slipped 0.3% to 7,722.72 while the Nasdaq-100 gained 0.7% as Nvidia set a record market value of $5.7 trillion.
Economic Data
The economy added just 29,000 jobs in September against expectations closer to 85,000 with revisions erasing 60,000 jobs from July and August totals.
Technical Levels
Technical support and resistance levels remain key this week as Q3 earnings season gears up with all-time highs within reach.
Historical Trends
October and November are the two best months of the midterm calendar with June's 2.1% average decline being the worst.
Investor Sentiment
AAII bears hit 53.3% with bulls at just 28.8%, the weakest reading in 16 months even with the index only 2% from its high.
The main idea
Nvidia's record $5.7 trillion market value boosts Nasdaq while S&P 500 dips slightly.
