A look back
- Equities took a breather last week with the S&P 500 and international markets posting marginal declines. Energy was the top performing sector while communication services lagged.
- Interest rates rose with larger moves seen on the shorter end of the yield curve. The 2-year U.S. Treasury yield climbed 0.08% and the 10-year yield moved 0.06% higher to close at 4.17%.
- Inflation ticked higher in August as seen in the Federal Reserve’s (Fed) preferred inflation measure, the Personal Consumption Expenditures (PCE) index. Meanwhile, Q2 GDP growth was revised higher to 3.8%.
A look ahead
- Investors eagerly await Friday’s employment report. After the August data was weaker than anticipated, consensus estimates are for 54,000 jobs to have been added in September with the unemployment rate holding steady at 4.3%.
- Focus will also be on a potential government shutdown looming on Wednesday. If a funding bill is not reached to avoid the shutdown, economic data including the jobs report could be delayed.
- Economic releases: Pending Home Sales, JOLTS, Consumer Confidence Index, Nonfarm Payrolls, Unemployment Rate.
Our full report is reserved for clients only. Let’s work together.
A caring advisor can help you uncover opportunities and take on challenges—and provide greater confidence, clarity, simplicity, and direction.