[Pre-market Analysis] September 24th
The market rally continued when the Fed’s announcement on results of interest rate discussion was as expected. Thus all of the three major indexes closed over 1% higher, with leading tech stocks climbing. The Congress and the White House reached an agreement on the source of spending bill, which also stabilized the market to a certain degree. Currently, the rising momentum of indexes is driven by three sectors: the financial stocks benefiting from the rising Treasury yield, the energy stocks boosted by surging seasonal demands, and consumer discretionary sector related to economic recovery. If the trend continues in the short term, the above three sectors will still be in the spotlight of the market.
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