4 Investment Committee Members on the September Setup: Why None Are Selling
Summary
CNBC’s Investment Committee maintained a bullish stance as September opened, with none of its four members planning to sell despite the month historically being the weakest on the calendar. The committee’s decision contrasts with Wall Street’s broader defensive posture, as stocks entered September following 27 record closes this year. Scott Rubner of Citadel Securities highlighted that earnings are complete, companies authorized over $1.1 trillion in buybacks through August, and retail dip buying slows in September. He also noted that the VIX closed August at 14.4, its second lowest finish since December 2025, making hedges inexpensive. The committee’s members, including Joe Terranova, Stephanie Link, Jason Snipe, and Josh Brown, cited reasons ranging from the market having a place to land to the belief that a rotation had already occurred. The economic backdrop remains supportive, with job openings staying at 7.3 million in July and the quits rate ticking lower to 2%.
Key points
- The CNBC Investment Committee consists of four members, none of whom plan to sell their positions.
- Scott Rubner of Citadel Securities noted that companies authorized over $1.1 trillion in buybacks through August.
- Retail dip buying slows in September, with purchases on down days running near half the normal pace.
- The VIX closed August at 14.4, its second lowest finish since December 2025.
- Bitcoin traded near $77,130 on Tuesday, down over 2% over the last 24 hours.
Timeline
Scott Rubner of Citadel Securities issued a note highlighting three key points for September.
The CNBC Investment Committee explained how they are setting up their portfolios for September.
Job openings remained at 7.3 million in July, with the quits rate at 2%.
““Use strength to reduce some exposure and add inexpensive protection into this event window,””
Background
September is historically the weakest month on the calendar, with the S&P 500 losing an average of 0.6% since 1950.
Why it matters
The CNBC Investment Committee’s decision to hold positions contrasts with Wall Street’s defensive moves, highlighting a divergence in sentiment.