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Stocks Defy Volatility Gods: Saxo Monthly Client Trends Report September
Note: This is marketing material. This article is not investment advice, capital is at risk.
Stocks Defy Volatility Gods: Saxo Monthly Client Trends Report September
Key Points
- US large cap technology stocks continue to defy valuations and expectations as Wall Street closes out the quarter in good shape
- The S&P 500 and Nasdaq Composite registered their best September in 15 years, defying what is usually the worst month for the stock market
- Saxo clients loaded up on stocks exposed to precious metals and crypto, while some of the most actively traded names remained in the AI space, while quality started to shine
- Although smaller in volume, clients were bullish on a number of UK-listed names
Wall Street notched its best September in 15 years, with the S&P 500 and the Nasdaq Composite rising 3.5% and 5.6% last month respectively.
The FTSE 100 ended the quarter at a record 9,350, having rallied by 1.8% in September to take its quarterly gain to 6.7%, the best three-month rally since 2022. The 15% YTD gain leaves it about the middle of the road in terms of global stock markets. The Hang Seng tops the table with a gain of 34%.
With gold and silver prices surging last month the top three gainers for the month were Fresnillo, Antofagasta and Endeavour Mining.
Most Traded Stocks
Big US tech names dominated the most actively traded stocks list. But while clients were strong buyers of Microsoft, Amazon and Oracle, they were net sellers of Alphabet, Palantir and Apple.
Saxo's Most Actively Traded Stocks in September Top Stocks Buy% NVIDIA Corp. 53% Tesla Inc. 50% Alphabet Inc. - A Share 45% Palantir Technologies Inc 48% Amazon.com Inc. 67% Advanced Micro Devices Inc. 55% Microsoft Corp. 66% Intel Corp. 51% Apple Inc. 48% Oracle Corp. 64% Alibaba Group Holding Ltd - ADR 54% Broadcom Inc. 60% Rolls-Royce Holdings Plc 59% BitMine Immersion Technologies Inc 86% CoreWeave Inc. 61% Vanguard S&P 500 Dist UCITS ETF 66% Nebius Group NV 62% Opendoor Technologies Inc. 63% Strategy Inc. 52% Rigetti Computing, Inc. 47% Meta Platforms Inc. 50% Micron Technology Inc. 55% Popular Stocks (Stocks & ETFs with the strongest % ratio last month) Some UK names (Diageo, Legal & General, Taylor Wimpey, easyJet) in the mix ETFs notable as investors seek further diversification Gold and silver features prominently along with crypto Quality names like Coca-Cola and Microsoft popular Top Stocks Buy% iShares Core MSCI World UCITS ETF 87% BitMine Immersion Technologies Inc 86% First Majestic Silver Corp. 86% VanEck Gold Miners UCITS ETF 84% MAST Energy Developments PLC 84% Vanguard S&P 500 Acc UCITS ETF 84% Diageo Plc 83% Lululemon Athletica Inc. 82% Legal & General Group Plc 81% Vanguard FTSE All-World UCITS ETF 79% Boeing Co. 71% Coca-Cola Co. 71% Taylor Wimpey Plc 69% Archer Aviation Inc. 68% Amazon.com Inc. 67% EasyJet Plc 67% Microsoft Corp. 66% Vanguard S&P 500 Dist UCITS ETF 66% Marvell Technology Group Ltd 65% Oracle Corp. 64% Nu Holdings Limited 63% Opendoor Technologies Inc. 63% Nio Inc. - ADR 63% BigBear.ai Holdings Inc. 62% iShares Core S&P 500 (Acc) UCITS ETF 62% Credo Technology Group Holding Ltd. 62% Nebius Group NV 62% CoreWeave Inc. 61% Novo Nordisk A/S - ADR 61% Uber Technologies Inc. 61%