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Afternoon Note

Tough August

By Karina Hernandez, Senior Research Analyst
8/31/2023 1:34 PM

A seesaw session that sees buyers walking away from traditional safe havens.

It continues to be about Technology and Consumer Discretionary, but for the most part, the market is marking time ahead of tomorrow’s jobs report.

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WTI is at a big swing point and nearing key resistance. The next leg higher will be monumental.

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The Atlanta Fed GDPNow has cut its Q3 GDP to 5.6% from 5.9%, which remains at historic growth. It is worth watching.

Major indices are closing out a tough August, which could have been worse if it were not for a five-day winning streak to end the month. 
 

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