FactSet Evening Market Recap

US equities were lower this week with the S&P 500 posting its worst weekly performance since March 2023 and the Nasdaq’s since January 2022. Stocks were lower this week on growth worries, hawkish Fed rate cut repricing, and a shift toward "bad news is bad news" on soft economic data. Today's August payrolls was the big catalyst this week, following other soft data this week.

US equities finished mostly lower in Thursday trading but ended a bit off worst levels. It was an up-and-down session after today's mixed data, including a weak ADP print and better claims and ISM services, as the market continues to balance soft-landing hopes with questions about whether the Fed will opt for a 25 or 50 bp cut at its September 18th meeting. Friday brings the employ

US equities were lower in Wednesday trading, ending just off worst levels, with the Dow Jones closing up 9bps, while the S&P and Nasdaq closed down 26bps and 30bps respectively. Growth worries in focus again following softer JOLTS job openings and some cautious Beige Book takeaways. Atlanta Fed's Bostic said Fed must not maintain restrictive stance for too long, giving equal we

US equities finished down in Tuesday afternoon trading, ending near worst levels. Big risk-off session to start September. Came alongside another bout of global growth fears. Market in waiting mode for Friday's August payrolls report, which could offer best indication on Fed's near-term rate cutting path. August ISM manufacturing contracted m/m against expe

US equities ended mostly lower this week in a fairly uneventful, low-volume week of trading heading into Labor Day weekend. Nvidia reported a beat and guided above consensus, though shares opened lower. July core PCE was in line with consensus, though the y/y print came in below estimates, while headline PCE was in line.  

US equities were mixed in Thursday trading as stocks ended well off best levels, with month-end and MSCI rebalancing looming Friday. US equities shed its gains amid an afternoon selloff, though there were no catalysts behind the move and likely amplified by low volume. Nvidia was a sizable drag with post-earnings weakness seemingly driven by more elevated expectations, while the la

US equities were lower in Wednesday trading, though ended off session lows. Today's weakness was fairly broad-based, but there was nothing seemingly definitive behind the move with the market still in waiting mode ahead of Nvidia earnings, which were reported after the close. The treasury supply was again in focus with today's poorly-received $70B 5-year note auction, which tailed

US equities were mostly higher in fairly uneventful Tuesday trading. S&P 500 and Nasdaq finished modestly higher. Another very quiet session devoid of catalysts ahead of NVDA earnings on Wednesday after the close. August consumer confidence came in ahead of consensus. August Richmond Fed index deteriorated vs consensus for some improvement.&nb

US equities were mostly lower and mixed in Monday trading, though ended a bit off worst levels. There’s fairly thin news flow and nothing to shift the broader market narrative. The market is focused on Nvidia NVDA earnings on Wednesday as the next key input for the AI secular growth theme.

US equities were higher for the week, with major indices adding on to last week's strong gains. The big focus of the week was on the Fed's policy path forward, with expectations firm for some sort of easing in September but still a fair bit of uncertainty about the magnitude and pace given worries about the labor market and the ongoing debate about a soft versus hard economic landi