Market Talk
September kicked off with a bearish swoon in the overall market. Recently, we saw that previously reported yearly new jobs were off by nearly one million people! For those paying attention, we see that the higher paying high tech jobs are slowing with mass layoffs at major companies. Meanwhile government and healthcare and lower paying service jobs grew. The problem is that for just one new government job it is estimated that it takes the support of four private sector jobs. The market may be coming to the notion that perhaps the government policies of recent years have many flaws.
Typically, September's can be a rough month for stocks with the end of summer investors rethinking their portfolios and shifting to perhaps safer haven stocks and investments. However, this is an election year so that can change dynamics to the upside historically speaking. I heard one pundit say it is 100 % correct that nobody knows for sure yet as to the market outlook. The AI hype has been played out, at least for now with higher PE tech stocks in sell mode.
Stock Talk
Altria Group, Inc (MO) : MO already has one of the highest paying dividends in the entire market. MO has been consistently increasing their dividend to shareholders year after year. With the Fed signaling lowering interest rates in September - the view here is that MO continues to be a stock to watch. How you decide what "watch" means is up to you. For me, I'm in some MO and like that near 8% divy just fine, thank you.
https://finance.yahoo.com/news/why-altria-group-inc-mo-064901902.html
Kinross Gold (KGC): The fiat currencies in the US and the world are being devalued by increasing money supply and inflation. Gold has recently passed the stubborn $2500 / Oz level. Kinross Gold has been highlighted here showing the mining footprint that spans Canada and the Americas. Suggested in the 6's, the current times of loose fiscal policy to buy votes point to staying the course with Kinross because support and a next level run on surging Gold, along with a stable dividend makes KGC a relatively solid stock to hold some. I'm staying / holding some stock in Kinross. May add more KGC on these market dips.
https://stockstowatch.blogspot.com/2024/04/
https://finance.yahoo.com/news/why-kinross-gold-corporation-kgc-215737497.html
IAMGOLD (IAG): Another stock to keep an eye on is IAG with trending higher earnings, similar to Kinross. However, IAG offers no dividend and is about $5 at a recent high. Keep an eye on the gold prices over the next month because IAG earnings as well as KGC could surge if Gold starts climbing higher as predicted by many economic pundits.
Oil Patch view: Highlighted here before, Devon Energy (DVN) beat earnings estimates last report. But, oil prices are somewhat fading along with oil patch stocks. This sector can be volatile and is sensitive to economic outlook. Moving to the sidelines on oil stocks.
If interested in other current watch stocks recently opined on here, scroll back to see posts on other stocks we are watching.
For now, we close by noting that any view on the market and stocks on any particular day may change in the future days to come. That is why we watch and see how our views match up with the reality of the time. But trying to look ahead a few months into the future may be a way to do things. If you think too deep about world events and the recent alliances forming, projecting ahead can be a dicey endeavor. In all - we use the word maybe "some", not "too much" and play it accordingly. Remember, never get arrogant in our various notions because things do change in the market and individual stocks are subject to many factors outside of our control.. So we try to -stay aware.
With all the above caveats and attempted prognostications, I will close this post. Stay tuned for more opining on the market and stocks to watch.
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