
US stocks ended Monday slightly higher, with all three major indices posting gains for both September and the third quarter.
Federal Reserve Chairman Jerome Powell hinted that aggressive rate cuts are unlikely in the near future, causing traders to reduce their overall expectations for Fed rate cuts.
Chinese stocks had a strong showing in September, with the Nasdaq Golden Dragon China Index surging by about 30% for the month.
Despite existing economic risks, market sentiment suggests that economic growth will remain stable. As the S&P 500 hit all-time highs and with a lack of strong catalysts like major economic data or earnings reports, the prices of ultra-short-term options appear high. However, contracts with longer expiration dates reflect potential events that could lead to market volatility.
Michael Welch, an analyst at Canaccord Genuity, noted that historically, the fourth quarter is typically the strongest for US stocks, with gains recorded in three out of every four years.
US Stocks
Fundamental Analysis:
Most major tech stocks rose, with Apple up over 2%, Google gaining over 1%, and Nvidia, Microsoft, and Meta showing modest increases. Sectors leading the gains included freight and logistics, consumer electronics, and internet content and information.
YX Group jumped over 9%, Trump Media & Technology Group surged nearly 9%, FedEx rose over 2%, and UPS gained over 1%.
However, precious metals and solar energy stocks lagged behind. Harmony Gold and Gold Fields dropped over 5%, Coeur Mining lost over 3%, and First Solar, Southern Copper, and Freeport-McMoRan fell more than 2%.
Popular Chinese stocks were mixed, with the Nasdaq Golden Dragon China Index up 0.45%, and showing a significant 29.60% increase for September. Futu Holdings rose over 11%, while Nio and Bilibili gained more than 2%.
Weibo and iQIYI rose over 1%, with JD.com and Baidu showing modest gains. On the downside, XPeng fell over 4%, Full Truck Alliance dropped more than 2%, and Tencent Music, Alibaba, Li Auto, Pinduoduo, Vipshop, and NetEase all saw slight declines.
Technical Analysis:

Market Trends:
- Dow Jones rose 17.15 points, or 0.04%, to close at 42,330.15
- Nasdaq gained 69.58 points, or 0.38%, to close at 18,189.17
- S&P 500 climbed 24.31 points, or 0.42%, to close at 5,762.48
Hong Kong Stock Market
Hong Kong markets were closed on October 1st for National Day Golden Week. Trading will resume on Wednesday, October 2nd.
FTSE China A50 Index
A-shares markets will be closed for National Day from October 1st to October 7th, with trading resuming on Tuesday, October 8th.
Risk Disclosure
Securities, Futures, CFDs and other financial products involve high risks due to the fluctuation in the value and prices of the underlying financial instruments. Due to the adverse and unpredictable market movements, large losses exceeding your initial investment could incur within a short period of time.
Please make sure you fully understand the risks of trading with the respective financial instrument before engaging in any transactions with us. You should seek independent professional advice if you do not understand the risks explained herein.
Disclaimer
This information contained in this blog is for general reference only and is not intended as investment advice, a recommendation, an offer, or an invitation to buy or sell any financial instruments. It does not consider any specific recipient’s investment objectives or financial situation. Past performance references are not reliable indicators of future performance. Doo Prime and its affiliates make no representations or warranties about the accuracy or completeness of this information and accept no liability for any losses or damages resulting from its use or from any investments made based on it.
The above strategies reflect only the analysts’ opinions and are for reference only. They should not be used or considered as the basis for any trading decisions or as an invitation to engage in any transaction. Doo Prime does not guarantee the accuracy or completeness of this report and assumes no responsibility for any losses resulting from the use of this report. Do not rely on this report to replace your independent judgment. The market is risky, and investments should be made with caution.