CNBC’s Investment Committee, made up of four members, plans no selling despite stocks entering the historically weakest month of the year after 27 record closes in 2024. Scott Rubner from Citadel Securities notes that buybacks reached $1.1 trillion since January, but these purchases stop after September 12, and retail buying on down days runs at roughly half the normal pace. JPMorgan and Wells Fargo have adopted a cautious stance, while the committee waits for a potential dip to add to positions. Bitcoin traded around $77,130, down over 2% in 24 hours, experiencing the same weak September seasonality.
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