Here’s everything you need to know to start the week…
Fourth Quarter Closers: CNBC used Kensho, a quantitative tool used by hedge funds, to find five Dow stocks that tend to gain an average 8-10% in the fourth quarter. Those are United Health (NYSE: UNH), Home Depot (NYSE: HD), Cisco Systems (NASDAQ: CSCO), Disney (NYSE: DIS), and Travelers (NYSE: TRV).
Ending On A High Note: The S&P 500 closed September at an all-time high. Apple has been the biggest contributor this year, despite shedding 6% last month.
Gold Down — But Not For Long: Gold recorded its biggest monthly decline so far this year in September. However, it still managed a quarterly rise of 3%. The metal will be more volatile than usual going forward as investors weigh Fed policy against political turmoil at home and abroad. In any case, the long-term outlook for the metal remains bright.
Fewer People Able to Retire: People today are living longer, more expensive lives, and typically without the assistance Americans enjoyed in the past. One in five Americans older than 65 are working, a record number. Some 9 million senior citizens work, compared with 4 million in 2000.
Trade Numbers: On Thursday, the U.S. Commerce Department releases its international trade data detailing the country’s trade balances with key partners. Watch for some tweets from Donald Trump. That will be followed Friday by the release of the September jobs report. The headline unemployment rate edged up to 4.4% in August.
Warm Up the Gavel: The U.S. Supreme Court opens its new term Monday. First on the docket is a case that will likely give employers a powerful new tool to prevent their workers from filing class action lawsuits.
Tax Troubles: After failing miserably on an Obamacare repeal, Republicans will now try to pass comprehensive tax reform. It will be an uphill climb. In its current form, the plan drastically lowers taxes for corporations and the wealthiest 1% of Americans, but actually raises them on many middle-class earners.
It would also add piles of debt. The nonpartisan Tax Policy Center says the corporate tax cuts will cost nearly $7 trillion over the next two decades — $2.6 trillion over the next 10 years and another $4.1 trillion from 2028 through 2037.
