The data is weak and the market is not optimistic☕
Similar to previous days, weak economic data (-8.7% new home sales in August, the lowest level since March; US consumer confidence index -5.7 points, the lowest level since May), the impending government shutdown Risks, the threat of Moody's downgrade, and overall market de-risking efforts made the SPX's early rebound attempts futile, and it ended the day down another 1.5%.
