Goldman Sachs(US:GS) Ge Long Hui A P P·2025-09-26 01:27Core Insights - The U.S. stock market has unexpectedly broken the "September curse" seasonal pattern, potentially achieving its best September performance in nearly 15 years, with the Nasdaq rising over 4.3% as of September 25 [1] Group 1: Market Performance - The technology sector has shown particularly strong performance during September [1] - Goldman Sachs analysts caution that while enjoying the September gains, investors should remain vigilant for the upcoming October, which may present multiple risks from corporate earnings and macroeconomic factors [1] Group 2: October Volatility - Historically, October has a 25% higher actual volatility compared to other months, making it the most volatile month of the year [1] - Three main factors contribute to October's volatility: 1. Earnings season, which increases trading activity due to profit pressures and year-end performance evaluations [1] 2. Macroeconomic data, including statements from Federal Reserve officials and the upcoming Consumer Price Index (CPI) report, which are likely to attract significant investor attention and may cause market fluctuations [1] 3. Investor behavior, as trading volumes for individual stocks (including stocks and options) typically peak in October, indicating that investors may be compelled to act under performance pressures [1]