September's Market Puzzle: Inflation, Recession, and Energy's Surging"
September 10th 2023 Update
The market performance in September is the weakest by historical averages. Next week we’ll have the CPI data for August which is expected to be in line with the one from July.
Looking at the chart, we are still in a sideways market, waiting for more clarity on the future of inflation and the probabilities of a recession.
I have covered this situation multiple times, yet it looks like the market cannot decipher what to expect.
Right now concerns are focused on preventing inflation numbers from getting too hot. Later this year we’ll see more (or less) concerns about the likelihood of a recession coming early in 2024.
In terms of Industry groups, the Energy sector looks like breaking out, reflecting the increasing price of Oil:
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