Although the era of negative interest rates may end soon, the Fed decided to wait with its rate hike this Wednesday. This is not unexpected, as market only gave a 20-25% chance for the hike, but more and more people believe a hike should come soon.
Investors’ mood is getting worse on the Wall Street since last Friday when another Fed official mentioned the need for rate hike. Last time we saw such a fall on the markets was right after the Brexit referendum. Soon after that, the optimism returned. In September however volatility is back again, and, as every year, S&P 500 may perform worst in this season.
September is the best month of the calendar for gold – believes Mark Hulbert, the columnist of MarketWatch. He adds that since the 70s (when owning bullion become legal) the “average return for the 11 other months combined is 0.6%, or barely more than a quarter of September’s average gain”. These tendencies are in contrast to stock market’s performance, where September is the worst month.
China started to build the link between the stock markets in Hong Kong and Shenzhen, which will probably start in November, according to Bloomberg. This will open up Chinese markets even further letting foreign investors trade more. Other changes, like better regulations are expected in the Asian country as well.
Wall Street Journal broke the news about the recently retired Kobe Bryant and his $100 million venture capital fund. Other retired superstars are also cautious with their money so they can continue their high life after stopping their sports career. Others are not so good with their wealth…