September 30, 2021

September 30, 2021

September is historically the most difficult month of the year for the stock market and this year was no different.  Today the S&P 500 lost another 1% bringing the loss for the month to nearly 5%, its worst month since March of 2020.

At the close:

Dow -546 to 33844

S&P 500 -52 to 4307

NASDAQ -64 to 14448

Oil +.26 to 75

Gold +34 to 1755

In corporate news shares of Bed, Bath & Beyond lost 23% of their value today after the company slashed its revenue and earnings outlook citing supply chain challenges and a sharp decline in customer traffic.  Kohls dropped 12% after Bank of America double downgraded the shares from buy to underperform.  Carmax has had a strong year but lost 12% today after reporting earnings for the most recent quarter 10% below what most were expecting.  Virgin Galactic gained 12% after the FDA cleared the company to resume launches after their July 11th incident.

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