Federal Reserve Chair Jerome Powell copped the blame for sending the financial markets into a tailspin on Friday with his hawkish Jackson Hole speech.

Rally Stalls: The setback came even as the markets were fighting back from the weakness seen for much of the first half of the year. Most assets bottomed in mid-June, raising hopes that sentiment may have reversed.

Wall Street analysts and market participants, however, were divided on whether the reversal seen in mid-June marked a sustained uptrend or a bear rally.

Historically, the year-end brings buyers into the market, thanks to the Santa Claus rally. However, September has been a dark horse, when markets have more often been lower than higher.

Louis Navellier, a fund manager, said in a recent note that late September may signal a bottom in the market. Irrespective of the message telegraphed by Powell on Friday, the Fed might not make any major rate move around the midterm elections in November.

How Do Returns Stack Up? Apple is a blue chip that has the highest weighting in the S&P 500 Index. The stock bottomed at $129.04 in mid-June and was seeing a nice upward bounce until the Powell shocker.

And if inflation readings over the next few months show a downtrend, the bull-bear tug-of-war could decisively move in favor of the former.

Amazon, Inc. (NASDAQ: AMZN) has been the best performing FAANG stock thus far this year, and given the company’s multiple profit centers, it is one worth tracking.

 Gold closed Friday’s session at $1,750.80 an ounce, and the yellow metal had hit a record intraday high of $2,089.20 on Aug. 9, 2020. This would mean gold can generate a 19% return if it reaches this level.