US equities climbed to new highs on Monday, September 15, as strong demand for big tech stocks and a rebound in Nvidia lifted market sentiment.
这 Nasdaq 100 advanced for the ninth consecutive session, marking its longest winning streak of 2023. The 标准普尔 500 指数 broke above the 6,600 level for the first time and is now up more than 35% from the April “tariff tantrum” lows. Meanwhile, the Dow Jones Industrial Average ended little changed.
Tech Drives the Momentum
Buying interest in large-cap tech continued to fuel the rally. Alphabet became the fourth company to cross the $3 trillion market capitalization milestone, joining Apple, Microsoft, and Nvidia. 特斯拉 shares also turned positive for the year after CEO Elon Musk disclosed a rare $1 billion personal share purchase. The stock has surged 93% from its April lows.
US–China Optimism
Investor sentiment also improved on signs of progress in US–China relations. Officials said the two countries reached a “broader consensus” on TikTok, with Presidents 唐纳德·特朗普 和 Xi Jinping scheduled to speak on Friday to finalize an agreement. Trump later posted on Truth Social that ties between the two nations remain “very strong.”
Fed Policy in Focus
Attention now shifts to the upcoming Federal Reserve policy decision on September 18 (2pm SGT). Markets are hoping for dovish guidance that would support equities and gold, though any cautious “wait-and-watch” stance from Chair Jerome Powell could temper the rally.
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摩根士丹利 maintains a bullish outlook, recommending investors buy on dips. Its most optimistic scenario places the S&P 500 at 7,200 by mid-2026.
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JPMorgan, however, warns that complacency could fade once the Fed begins cutting rates, as markets may start to price in more downside risks.
Economic Data
Adding to the positive tone, US retail sales rose 0.6% in August, beating expectations. The core control group climbed 0.7%, marking the fourth consecutive month of growth.
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