Note: Our daily “S&P 500 Outlook, Forecast, and Trading plan” will be posted around 9:00am EDT, every trading day.

For the Outlook, Forecast, and Trading Plans published this morning, please click here

For the last published Results of the Morning Trading Plans, please click here.

THE GIST (“THE WHAT”)

The S&P 500 index wrapped up the choppy month and third quarter on a positive note, albeit still being stuck between the consolidation range amid simmering trade and political uncertainty. Statement released by the U.S. Treasury Department that the Trump administration is not considering the delisting of Chinese companies from U.S. stock exchanges helped ease concerns that had dragged the index lower on Friday.

Friday’s underperformers clawed back some of their losses, lifting the broader index higher during the afternoon session. The index jumped in the afternoon session alongside rising technology, health care and retail stocks. Weakness in Energy and financial stocks, however, kept the gains capped. Losing steam during the last hour of trading, the index closed off of session highs at 2976.74, up 14.95 points and gaining 0.50% over previous session’s close.

THE DETAILS (The “How & Why”):

Semiconductors erased some of Friday’s losses on the back of easing trade tensions. A rebound in China’s manufacturing index primarily due to improving domestic demand helped improve sentiment. Gains remains capped as investors closely monitor developments around U.S. – China negotiations that are set to restart mid-October.

Technology sector posted the best gains of the session, up 1.04%. Apple Inc. added to the strong gains, jumping 2.35% and regaining a $1 trillion market cap after JPMorgan analyst upgraded its stock citing stronger-than-expected demand for the recently launched iPhone 11 models.

Health Care and Consumer Discretionary sectors were the other strong performers of the session, up 0.90% and 0.84% benefiting from a rebound in retail, restaurants and health care stocks. L Brands Inc., Newell Brands Inc., Chipotle Mexican Grill Inc., Ulta Beauty Inc. and Align Technology Inc. were the strongest performers of the session, gaining more than 2% apiece.

The 10-year Treasury yield pulled back from its early session climb, settling slightly lower at 1.678%. Weighed down by the strength in U.S. Dollar, Gold fell to its two-month lows. Oil prices also slipped to its one-month low following reports that Saudi Aramco has fully restored the lost production capacity.

Energy and Financials were the only sectors not participating in the day’s gains. National Oilwell Varco Inc., Baker Hughes and Marathon Petroleum Corp. were the worst decliners of the session, declining 3.81%, 3.49% and 2.68%, respectively.