Markets
September has been the worst month for investors since 1950. Lets hope we can break this losing streak here in 2025.
Stocks ended the week slightly lower as mixed economic data led to some profit-taking by investors ahead of the holiday weekend.
The Standard & Poor’s 500 Index edged down 0.10 percent, while the Nasdaq Composite Index slipped 0.19 percent. The Dow Jones Industrial Average slid 0.19 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, skidded 1.53 percent.1,2
Stocks Rise, Then Falter
Stocks initially rose but then took a breather as investors continued to process Fed Chair Powell’s comments from the Fed’s annual symposium.3
Stocks regained momentum midweek as investors waited for the Q2 corporate report from the nation’s most influential artificial intelligence (AI) company. The AI chip maker posted results Wednesday night, with a mixed reception in after-hours trading. On Thursday, the stock rallied, which helped the S&P 500 close above 6500 for the first time.4,5
On Friday, the Fed’s favorite inflation gauge, the Personal Consumption Expenditures (PCE) Index, aligned with expectations. Still, stocks were under pressure from the opening bell as investors appeared to take profits ahead of the Labor Day weekend.
Mixed Economic News
Revised gross domestic product (GDP) numbers showed the economy grew more quickly in Q2 than initially thought, which was a win for the economic bulls. However, the economic bears pointed out that orders of durable goods declined and the trade deficit was wider than expected. The PCE report, while in line with expectations, was at a 2.9 percent annual rate in July.6,7,8
Investors are closely watching every piece of economic data for insights about what the Fed will do with interest rates at its two-day meeting, which ends September 17. So expect attention to focus on speeches by Fed officials until the Fed enters its blackout period before the September meeting.
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