Indexes Research and Insights

Nasdaq Index Performance: September 2023

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index performance september 2023 table

In September, global financial markets navigated a challenging and unpredictable landscape influenced by many factors, including economic data, geopolitical developments, and corporate earnings reports. Within our comprehensive report, tracking 107 indexes, only nine concluded the month with positive returns, leaving the majority in the red. The collective average return for all 107 indexes stood at -4.6%. Notably, the Nasdaq Sprott Junior Uranium Miners™ (NSURNJ™) emerged as the top performer, achieving an impressive gain of +25.4%. Conversely, the Nasdaq Lux Health Tech™ (NQHTEC™) suffered a significant loss of -12.7%.

In the Nasdaq Featured lineup, the story was one of negative returns for September 2023, with losses ranging from -3.9% to -10.0%. Particularly noteworthy were the substantial losses experienced by the PHLX Gold/Silver Sector™ (XAU™) and the Nasdaq Innovators Completion Cap™ (NCX™) within the -8% to -10% range. Additionally, the Nasdaq-100 Technology Sector™ (NDXT™) and Nasdaq Composite® (COMP®) posted losses of -4.6% and -5.8%, respectively. The Nasdaq-100 Index®, tracking the top 100 nonfinancial names listed on the Nasdaq Stock Market®, faced a -5% decline.

Moving beyond the Featured lineup, Nasdaq Global Indexes, designed to represent diverse global markets, registered negative returns that ranged from -2.4% to -6.4%. Notably, the Nasdaq Emerging Markets™  Index (NQEM™) experienced the smallest loss at -2.4%, while the Nasdaq US Small Cap™ (NQUSS™) bore the brunt of the market’s challenges with a substantial -6.4% decline. The Nasdaq US Large Cap™ (NQUSL™) and Nasdaq US Mid Cap™ (NQUSM™) indexes also encountered selling pressure, posting declines of -4.8% and -5.5%, respectively.

Within the Nasdaq OMX Nordic suite, performance outcomes varied. The Nasdaq OMX Nordic 120™ (NOMXN120™) and the OMX Nordic 40™ (OMXN40™) stood out with modest positive returns of +0.7% and +0.4%, respectively. In stark contrast, the OMX Helsinki 25™ (OMXH25™) grappled with significant headwinds, concluding the month with a notable -2.5% decrease.

All 25 indexes listed in the Nasdaq Thematic Tech category posted negative returns in September. The Nasdaq Global Future Mobility™ (NYGCAR™) and the ISE Cyber Security UCITS™ (HUR™) ended the month with relatively smaller losses of -3.0% and -3.3%, respectively. However, several other indexes in this category bore the brunt of the losses in the -4% to -6% range, with the Nasdaq Lux Health Tech™ (NQHTEC™) emerging as the hardest hit, plummeting by -12.7%.

The Nasdaq Thematic ESG suite showcased mixed performance. Impressively, the Nasdaq Sprott Junior Uranium Miners™ (NSURNJ™) surged by +25.4%, reflecting the growing interest in uranium as a clean energy source. Conversely, the Nasdaq Clean Edge Green Energy™ (CELS™) bore the brunt of the group's decline, concluding the month at -10.3%.

In the realm of momentum-based Nasdaq Dorsey Wright indexes, negative returns prevailed, with only the Dorsey Wright Energy Technical Leaders™ (DWEN™) index ending the month in positive territory, boasting a gain of +2.7%. The Dorsey Wright Technology Technical Leaders™ (DWTY™) faced the most significant setback, concluding the month with a  -9.6% return.

Indexes focused on dividend and income strategies also faced a challenging month. The Nasdaq International BuyBack Achievers™ (DRBXUS™) incurred the mildest loss, down -0.7%, while the Nasdaq US Dividend Achievers 50™ (DAY™) exhibited the largest decline at -7.3%.

Performance among Nasdaq Options Indexes presented a mixed picture. The Credit Suisse Nasdaq WTI Crude Oil FLOWS 106 TR™ (QUSOITR™) stood out with the highest positive return at +6.2%, while the Credit Suisse Nasdaq Silver FLOWS106 TR™ (QSLVOTR™) experienced the most substantial negative return at -8.3%.

Nasdaq Green Economy Indexes, emphasizing green and sustainable investments, registered negative returns across the board. The Nasdaq OMX Wind™ (GRNWIND™) and Nasdaq OMX Solar™ (GRNSOLAR™) indexes recorded the steepest losses, declining by over 9%.

Finally, the Nasdaq Crypto Indexes, tracking various cryptocurrencies, exhibited mixed performance in September. The Nasdaq Bitcoin™ (NQBTCS™) index reported a positive return of +2.4%, while the Nasdaq Crypto Index Europe™ (NCIES™) fell by -1.2%.

In conclusion, the September performance of all 107 Nasdaq-powered indexes underscores the ongoing challenges and uncertainties facing financial markets. Headwinds, including concerns over inflation, supply chain disruptions, and potential shifts in central bank policies, have created a complex and volatile environment for investors. As was the case in August, concerns surrounding “higher rates for longer” continued to weigh on demand for equities while Treasury yields remained near 16-year highs.  Additionally, rising oil prices, an auto worker strike in the US, and a drop in consumer confidence dented investor sentiment. While negative returns cut across various sectors and themes, it's crucial to recognize that market dynamics can change rapidly. As we enter the final months of 2023, it remains essential for investors to maintain vigilance and adaptability, closely monitoring the evolving economic landscape and making informed decisions.

 

 

Disclaimer:

Nasdaq® is a registered trademark of Nasdaq, Inc. The information contained above is provided for informational and educational purposes only, and nothing contained herein should be construed as investment advice, either on behalf of a particular security or an overall investment strategy. Neither Nasdaq, Inc. nor any of its affiliates makes any recommendation to buy or sell any security or any representation about the financial condition of any company. Statements regarding Nasdaq-listed companies or Nasdaq proprietary indexes are not guarantees of future performance. Actual results may differ materially from those expressed or implied. Past performance is not indicative of future results. Investors should undertake their own due diligence and carefully evaluate companies before investing. ADVICE FROM A SECURITIES PROFESSIONAL IS STRONGLY ADVISED.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Nasdaq Index Research Team

Nasdaq

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