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Summary Stocks advanced this week, with the S&P 500 up +1.89%, the Dow up +1.43%, and the Nasdaq up +1.84%. September payrolls rose +29,000, missing the +90,000 estimate and slowing from August’s revised number of +133,000. Unemployment rose to 4.2%, and wage growth cooled to +0.1% on the month and +3% year over year. The […]

Summary Equities declined across the board this week, with the Dow down −0.82%, the S&P 500 −0.49%, and the Nasdaq −0.25%, while the 10-year Treasury yield rose +3 basis points to 5.23%. Economic data was mixed. Consumer confidence fell to 81.9 and JOLTS job openings dipped to 7.08 million, though ADP payrolls beat with a […]

Summary Equities were mixed this week, with the Nasdaq leading at +1.97% and the S&P 500 up +0.87%, while the Dow fell −0.83% and the 10-year Treasury yield rose +25 basis points to 5.18%. On the economic data, business activity accelerated sharply. The flash S&P Global Manufacturing PMI rose to 57.0, its strongest reading since […]

Summary Equities were mixed this week, with the Nasdaq leading at +1.29% and the S&P 500 up +0.61%, while the Dow slipped −0.55% and the 10-year Treasury yield edgedfell down −2 basis points to 4.94%. On the economic data, August CPI ran hot on energy, rising +0.4% month over month and holding the annual rate […]

Summary Equities fell across the board this week, with the Dow leading the decline at −3.02%, the S&P 500 off −2.01%, and the Nasdaq down −1.89%, while the 10-year Treasury yield jumped +19 basis points to 4.96%. On the economic data, August nonfarm payrolls added +162,000 jobs, well above the +55,000 estimate, with July revised […]

Summary Equities were little changed this week, with the S&P 500 and Dow both up +0.22% and the Nasdaq up +0.16%, while the 10-year Treasury yield climbed +9 basis points to 4.77%. On the economic data, the S&P Global Manufacturing PMI rose to 53.9 from 53.2 while the Services PMI came in at 56.5, with […]

Recent inflation and economic data have increased expectations that the Federal Reserve may be nearing the end of its current rate-hiking cycle. But investors may be surprised to find that longer-term interest rates have remained stubbornly high. The reason is simple: the Federal Reserve does not control every interest rate. While the Fed directly influences […]

Summary Equities rebounded this week after last week’s pullback, rising across the board with the Nasdaq leading at +1.82%, the Dow up +1.54%, and the S&P 500 gaining +1.18%, as the 10-year Treasury yield fell down −2 basis points to 4.68%. On the economic data, a preliminary reading of the S&P Global US Manufacturing PMI […]

Summary Equities fell across the board this week, with the Nasdaq leading the decline at −2.75%, the S&P 500 down −2.02%, and the Dow down −2.01%, as the 10-year Treasury yield rose +7 basis points to 4.71%. On the economic data, retail sales posted their first decline in nine months in July, falling −0.6% on weakness […]