Weekly Market Commentary

Stocks rallied last week as economic data eased investor's inflation fears. The CME FedWatch tool now shows a 94% probability of no change in rates at the next September 20th Fed meeting. Stocks did post their first negative month in August, since February with the S&P 500 TR Index down 1.6%.

Markets treaded water last week, reacting to many mixed signals re: the economy and the Fed's future path on monetary policy. Growth companies outperformed value, helped by a huge earnings beat by AI chipmaker Nvidia.

Stocks retreated for the third consecutive week, as sentiment has turned negative due to a sharp increase in long-term bond yields and fears of a severe slowdown in China.

Stocks were mixed last week in light end-of-summer trading. Investors were wrangling with positive news on the inflation front, while long-term rates continue to move higher.

U.S. stocks ended the week higher, with the Dow posting its 13th consecutive gain on Wednesday, its longest winning streak since 1987.

Markets advanced last week on hopes that the strong labor market, coupled with moderating inflation, will set the stage for a soft landing recovery that avoids recession.