FactSet Evening Market Recap

Weekly Market Recap - Friday, 26-Sep

Major US equity indices finished lower this week, but came off worst levels in broadly higher Friday trading. Investors slightly dialed back expectations for two more 25 bp Fed rate cuts this year, with some economic data generally arguing against the economic slowdown thesis. After a relatively quiet period, trade-headline volatility burst back in at week's end, with Trump announcing via social media a set of sectoral tariffs on imports of patented drugs, heavy trucks, and select furniture products.

Evening Market Recap - Thursday, Sep-25

US equities finished lower in Thursday trading, though ended off worst levels with the Dow Jones, S&P500, and Nasdaq closing down 38bps, 50bps, and 50bps respectively. August durable goods orders rose 2.9% m/m, initial jobless claims printed at 218K, better than consensus, and final Q2 GDP was revised up to a 3.8% annualized rate. Oracle was a high-profile laggard following an initiation with a sell rating and news it will share part of a 45% stake in TikTok.

Evening Market Recap - Wednesday, 24-Sep

US equities were lower in Wednesday trading, though finished off their worst levels, with the Dow Jones, S&P500, and Nasdaq closing down 37bps, 28bps, and 33bps respectively. New home sales for August came in well ahead of estimates, rising to its fastest annualized pace since January 2022. Treasury auction of $70B of 5-year notes saw a slight tail. Alibaba jumped after disclosing it will ramp up its AI investment. Micron finished lower as better than expected results failed to meet a high bar.

Evening Market Recap - Tuesday, 23-Sept

US equities were lower in Tuesday trading as stocks ended a bit off worst levels. Big story today was reversal from Monday's price action, as AI and Big Tech leading to the downside. Fed Chair Powell largely echoed his comments from last week's FOMC meeting.

Evening Market Recap - Monday, 22-Sep

US equities were higher in Monday trading as stocks ended near best levels. Stocks extended recent gains in a quiet session as the path of least resistance remains to the upside, tabbed today to the latest pickup in M&A activity. No major economic data releases were scheduled for this morning, but it was busy in terms of Fedspeak.