Amplify Alternative Harvest Etf (MJ)

Shares of ETFMG Alternative Harvest (MJ) dropped by 6.49% from $3.08 to $2.88 in the trading on Wednesday, October 25, 2023. The reason why MJ is down today is due to steep drop in technology company shares, which impacted the Nasdaq Composite.

• Tech Sector Decline: The tech sector witnessed a substantial decline, leading the Nasdaq Composite into correction territory. Shares of Alphabet, Google's parent company, closed down nearly 10%, raising concerns among investors about the resilience of tech stocks following a strong year. Other tech giants like Amazon.com, Apple, and Nvidia also saw declines.
• Mixed Earnings Reports: Amid the market turbulence, there were mixed earnings reports. Microsoft's positive cloud results boosted its shares. However, Facebook parent Meta and IBM reported their results after the market closed, adding to the day's uncertainty.

Shares of ETFMG Alternative Harvest (MJ) dropped by 5.71% from $4.20 to $3.96 in the trading on Tuesday, September 19, 2023. The reason why MJ is down today is due to the broader market movements.

• Market Conditions on September 19, 2023: The U.S. stock market saw a decline, with Treasury yields rising in anticipation of the Federal Reserve's upcoming interest rate decision. Specifically, the Dow Jones Industrial Average fell by 0.3%, while the Nasdaq and the S&P 500 both slipped by 0.2%.
• Federal Reserve's Interest Rate Decision: The Federal Open Market Committee (FOMC) met on this day to assess the state of the economy and the outlook for inflation. The recent increase in inflation, driven by higher oil prices, prompted discussions among policymakers. While the FOMC is expected to maintain current interest rates, there is an expectation that they will signal a commitment to keeping rates "higher for longer" than previously anticipated.

Shares of ETFMG Alternative Harvest (MJ) dropped by 8.01% from $4.62 to $4.25 in the trading on Tuesday, September 12, 2023. The reason why MJ is down today is due to the broader market movements.

• The "September Effect": The U.S. stock market is anticipated to face challenges in the second half of September, especially in the week following the September 15 options expiration. This phenomenon, known as the "September Effect," often results in soft returns in September. Notably, in 26 of the last 33 years, the S&P 500 Index experienced declines in the week after September options expiration, with a median drop of 1%.
• Factors Behind Market Volatility: Several factors contribute to this trend. The upcoming week includes the Federal Reserve's monetary policy meeting, where investors seek insights into future interest rate decisions. Mutual funds engage in "window dressing" in September, selling stocks to enhance portfolio appeal, while individual investors may sell stocks to cover estimated taxes.
• Historical Performance: Historical data shows mixed September performance. In years when the S&P 500 index has risen by over 10% through August, September tends to have positive returns, averaging a gain of 0.3%. Despite September's challenges, investors are closely monitoring market catalysts, including the U.S. consumer price report scheduled for release.