The Rundown Apple's Annual iPhone Event Kicks Off, Dell & Palantir Join the S&P 500
Sep 9, 2024
In a week of stock market turmoil, the S&P 500 faces significant changes as Dell and Palantir join while Etsy and American Airlines exit. Anticipation builds for Apple's upcoming iPhone event, with speculated price increases and new AI features stirring excitement. The podcast dives deep into how these developments impact major players like Tesla and Nvidia, giving listeners a clearer picture of market sentiments and potential volatility.
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Brutal Market Week
- The S&P 500 had its worst week since March 2023, dropping 4.2%.
- The NASDAQ performed even worse, down 5.7%, its worst since June 2022.
September Slump
- September has historically been the worst-performing month for stocks.
- Over the past decade, it's the only month with negative average returns.
S&P 500 Shakeup
- Dell and Palantir will join the S&P 500 on September 23rd, replacing Etsy and American Airlines.
- ETFs tracking the S&P 500 will buy shares of Dell and Palantir, potentially boosting their prices.