Weekly on American stocks: Unease – 09/29/2023 at 10:38 p.m.

September 29 – ** The S&P 500 .SPX extends its losing streak to four weeks, plunging 0.7% in volatile trading, as high rates weigh, and anxiety about the government shutdown grows .NOT

** Indeed, it was another tough September, with the SPX suffering the worst month since December 2022, and the first bearish quarter since September last year

**The 10-year U.S. Treasury yield US10YT=RR falls from 16-year high, but remains on track to rise for the fourth straight week

** The SPX falls below the 4,300 mark, while the Nasdaq .IXIC falls back to support

**That said, traders are starting to get nervous, and so far the SPX is surviving the test of the support line

** Almost all sectors are on edge: Bond indices are worried, while energy is relatively calm

** Utilities .SPLRCU plunge 7%, real estate

.SPLRCR lost 1.6%. REITs, Utilities Continue to Fall as Yields Climb . End of Fed rate hike cycle could strengthen commercial real estate

Renewable energy giant Nextera NEE.N loses 15% over the week as its subsidiary reduces its growth prospects

** Basic consumer goods .SPLRCS fell 2.1%. Target TGT.N falls as company closes 9 stores in 4 US states amid rising retail crime

But Costco COST.O up after many analysts raise forecasts on robust results

** Financial stocks .SPSY lose 1.6%. U.S. bank stocks are being hit by ongoing concerns about high rates. However, at the close, the S&P 500 Banking Index .SPXBK was down only ~0.3% for the week, and the KBW Regional Banking Index .KRX was actually up 1.5%.

**The consumer discretionary sector .SPLRCD fell 0.3%. Amazon.com AMZN.O declines after FTC files competition complaint, and Carmax KMX.N loses steam due to weak demand for used vehicles

Although Nike NKE.N Leaps Forward on Improving Profits, Pledges to Increase Focus on Running Shoes

** Tech .SPLRCT loses 0.1%. Micron MU.O slips on lower loss forecasts as analysts say memory chip maker will benefit from industry recovery in 2024

Nevertheless, the .SOX semiconductor index advances 2%

**The .SPNY energy index rises 1.3%. Group Rises on Tighter Oil Supply, Oil Bulls Fight Back, But Falls Friday as Crude Gives Up Gains O/R

**Meanwhile, bearish individual investors highest since mid-May, and stocks may not fall much further on shutdown, could recover after year’s end

**The performance of the SPX since the beginning of the year:

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