UPDATE

🌤️ Happy Tuesday

Good afternoon, we hope your day is off to a great start. Since yesterday was Labor Day, you likely had a three-day weekend (always a plus!) We hope you were able to use this time to rest up and maybe enjoy something outdoors.

According to the Pew Research Center, depending on where you live, the ‘back to school’ season can stretch from late July to Labor Day. If you’re now starting up school, or know someone who is, we wish you the best of luck!

Read time: 4 minutes

WEEK IN REVIEW

📈 Market Performance

S&P 500 (5-day), via Google Finance

The S&P 500 has seen a moderate resurgence this past week, as the index once again topped 4,500 points. Over the last few weeks, analysts seemingly had grim predictions for the market in 2023, but early September performance is promising.

• Since last Tuesday’s opening, the S&P rose 1.64%, with the highest point being Friday's market open. The standout performance of Friday was likely due to high-volume trading in anticipation of markets being closed for a three-day weekend.

The Nasdaq composite saw a similar rise to the S&P (compare both 5-day charts to view this for yourself).

📱 iPhones on the Horizon

Apple September 12th Event Wallpaper, via OSXDaily

This weekend, Apple sent out invitations and published a flyer for their annual September event. This Apple event has historically been reserved for the unveiling of the new iPhone models, Apple Watch models, and iPhone-related software updates. The event will be held Tuesday, September 12th in the Steve Jobs Theater at Apple’s Cupertino HQ.

• For those of you tracking, this year should bring the release of the iPhone 15 models, which reported are going to make the switch to USB-C for the charging port.

The news of the event didn’t result in much reaction from Apple stock, likely because the announcement of September (and June) events is normal for the tech giant. More than likely, Apple announcing a delay of their events would show more market reaction.

You can watch the event here: Apple.com

WEEKLY WATCHLIST

🏦 Many Notable Banks Rated as ‘Sell’

U.S. National Bank Building, via Wikimedia Commons

Disclaimer: Technical ratings by analysts do not constitute end-all-be-all buy or sell advice. MARK IT. is reporting market sentiment in this section and does not advise any action without personal research.

Numerous high market-cap bank stocks have been down for the past few months. This includes juggernaut JP Morgan Chase, whose stock is down almost 7.1% since its late-July high of $150 per share.

Some notable banks seeing selloffs of stock include:

• Bank of America (BAC)

• Goldman Sachs (GS)

• Wells Fargo & Company (WFC)

While many analysts rate stocks with buy or sell markers depending on performance and investor sentiment, a dip in performance can also be an opportunity. Picking up shares of high market cap bank stocks while the value is down can bring a high payoff in the future.

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MARK IT. EXPLAINED

⏱️ What Is After-Hours Trading? (Updated)

New York Stock Exchange by David Blaikie, via Flickr

Let’s look at the concept of after-hours trading. This is trading (or investing) done after the conventional trading hours for financial markets. Investors can still input transactions or close orders during this time. This trading occurs from 4 pm Eastern Standard Time (after the markets close) and ends around 8 pm.

Here are some benefits of after-hours trading for you:

• Convenience

• Opportunity

• Ability to react to aftermarket news

• Flexibility

• Taking advantage of volatility

After-hours trading sounds excellent with these benefits, but there are drawbacks. Some risks include order restrictions, low liquidity, price premium or volatility, wide bid-ask spreads, and lack of participation.

With both the benefits and risks factored in, after-hours trading can be a chance to get ahead of the news cycle or cut losses quicker than usual. It’s not to be confused with pre-market trading (4 a.m. to 9:25 a.m.). (Source: Investopedia)

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Thanks again for reading!

Nothing MARK IT. publishes constitutes professional and/or financial advice, nor does any information published by MARK IT. constitute a comprehensive or complete statement of the matters discussed.