Zurich Futura Family Income Benefit(FIB)
Futura is a flexible, whole of life insurance policy. It...
As expected, the bears came out of a six-month-long hibernation in September, bringing the S&P 500 down by 4.89%. A typical correction during a bull market, blown out of proportion by the media.
Despite the pullback, the S&P 500 is still up by 16% YTD; the Dow and Nasdaq are up by 12.2% and 13.00%, respectively.
A slew of positive economic data and a potential oral treatment of Covid-19 announced by Merck boosted investor sentiment on Friday.
While the Democrats and the Republicans are still split on raising the debt ceiling, an interim spending bill was passed, to fund the government until early December.
The debt ceiling is very likely to be raised just before the deadline, but not without political drama, with each side trying to make the best of this stalemate.
Volatility is likely to continue in October a supply chain bottlenecks, inflation and tapering fears persist.
Driven by concerns about growth and inflation, European equities declined sharply last week.
Shares in Japan also declined sharply as the Nikkei index was down by 4.89% last week. Former foreign minister Fumio Kishida won the Liberal Democratic Party’s (LDP) presidential election by beating Taro Kono. He is very likely to succeed Yoshihide Suga as Japan’s prime minister.
Chinese equities were flat, with the CSI 300 Index of large-cap stocks was up, and the Shanghai Composite Index was down from the previous week.
Indian equities were down on global cues and profit booking, breaking a five-week winning streak. Sensex was down by 2.10% to close at 58,765.58 points, and the Nifty was fell by 1.7% to settle at 17,532.05 points.
Despite the sharp correction last month, investor confidence is still strong, and “Buy the Dips” seems to be the mantra for now. If you are uncomfortable with the recent correction; likely your portfolio is not aligned with your risk appetite. Speak to your financial advisor to review and realign your portfolio to your investment goals and risk appetite.
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