September Outlook: Uncertainty At New Levels As Fed Policy, Delta Variant, Jobs Market Scrutinized

September Outlook: Uncertainty At New Levels As Fed Policy, Delta Variant, Jobs Market Scrutinized

Uncertainty is far from unusual on Wall Street and is arguably one big reason we trade stocks in the first place. But the level going into September stretches uncertainty levels to a place we haven't seen in a while. For many people, it's just very confusing as to where to go and what to do right now because there's so many mixed messages coming through. Some of the lighter volume in late August probably reflects seasonal trends. Having said that, people might be a bit less inclined to trade because it's hard to have true conviction right now one way or the other. The issues that potentially help make September so edgy won't sound unfamiliar if you've been following things. The Delta variant remains front and center with no really good insight from doctors and scientists of when it might peak. The Fed's policy remains a work in progress following the recent Fed's virtual Jackson Hole symposium. Fed Chairman Jerome Powell made clear the Fed is soon going to be ready to start cutting back its $120 billion a month bond-buying program, but it's unclear when this might start. Then there's the debate over infrastructure and budget issues in Washington,