A look back
- U.S. stocks ended the week modestly lower but closed out August in positive territory. The S&P 500 slipped 0.1% last week but gained 2.0% for the month. Mid- and small-cap stocks outperformed in August, rising 3.4% and 7.1%, respectively.
- U.S. Treasury yields ended the week lower, even as inflation continues to be elevated. The curve steepened as the 2-year yield fell to 3.61% and the 10-year dipped to 4.22%.
- Revised second quarter gross domestic product (GDP) data showed the U.S. economy grew slightly faster than initially reported. Annualized growth was revised up to 3.3% from 3.0%.
A look ahead
- Third quarter earnings season carries on with 136 S&P 500 companies set to report this week. So far, 83% of companies in the index have beaten earnings-per-share (EPS) estimates, well ahead of historical averages.
- With the government shutdown entering its sixth week, investors will look to private sector data for a view into the health of the labor market.
- Economic releases: ISM Manufacturing and Services, ADP, Unemployment Rate*, Nonfarm Payrolls*, U. Mich. Consumer Sentiment.
*data delayed pending the government shutdown
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.