📈 AMD Takes on Nvidia

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Stocks took a breather, snapping an impressive eight-day streak for the S&P 500 and Nasdaq. Meanwhile, all eyes are on the Fed’s Jackson Hole Symposium, with history hinting at market moves ahead. Plus, the 2024 election is stirring up market uncertainty.

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Markets

📊 S&P 500, Nasdaq snap eight-day winning streak as rebound rally pauses
Stocks dipped on Tuesday, breaking the S&P 500 and Nasdaq's eight-day winning streaks—their first such run since late 2023. The S&P 500 missed a chance to achieve its longest winning streak since 2004, as investors struggled to sustain the recent market rally.

📈 Here’s how U.S. stocks historically perform around the Fed’s Jackson Hole gathering
The Federal Reserve’s annual Jackson Hole Symposium is happening this week, with all eyes on Fed Chair Jerome Powell’s Friday speech. Historically, stocks have risen.

🖥️ AMD to Challenge to Nvidia
AMD stock jumped 4.5% after announcing a $4.9 billion deal to acquire ZT Systems, an AI equipment provider. This move puts AMD in direct competition with Nvidia, as AMD tries to catch up with Nvidia.

📝 How to Track Your Net Worth (ft. FREE Net Worth Tracker)
How often do you check your net worth? If tracking it feels like a challenge—or you don’t do it at all—this post is exactly what you need.

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ECONOMY

What the 2024 Election means for markets

U.S. financial markets appear relieved after recession concerns earlier this month, with economic data hinting at potential interest rate cuts by the Federal Reserve.

However, analysts caution against getting too comfortable as the 2024 presidential election season heats up. Historically, the S&P 500 struggles during election years, especially in September, which has been the weakest month since 1944. The S&P 500 typically sees an average decline of 0.8% in September, making it a challenging period for investors.

October, while averaging a 1% gain, is notorious for high volatility, partly due to uncertainty over election outcomes. Analysts note that stock market behavior often hinges on whether the incumbent party retains the presidency, with more volatility seen when it doesn’t.

This year, with Vice President Kamala Harris leading in the traditional polls after replacing President Biden as the Democratic nominee, the markets are particularly jittery. Healthcare stocks, traditionally favored by a Trump presidency, have surged, but could face headwinds if Harris wins, given her stance on drug pricing policies. The close race suggests investors should brace for more market swings ahead.

Traders have also been closely watching Polymarkets for an early read on the 2024 presidential race. Trump initially held a solid lead until Biden dropped out, after which Kamala Harris briefly overtook him in the odds. However, in recent days, Trump has regained the top spot, adding more uncertainty to the already volatile market.