Unify Financial Advisors Weekly Market Update
Wall Street experienced positive momentum, driven by expectations of a Federal Reserve interest rate cut. The S&P 500 gained 1.59% for the week, closing at 6,584.29, and the tech-heavy NASDAQ reached a record high. The 10-year treasury yield declined to 4.06%, driving 30-year mortgage rates lower.
Key economic reports included an increase of 0.4% in August for the Consumer Price Index (CPI) and a slight decline of 0.1% in the Producer Price Index.
Weekly Outlook
The Federal Open Market Committee meets this week. The outcome is expected to be a 0.25% cut in the federal funds target rate. President Trump and Xi Jinping are said to confirm a deal on TikTok this Friday.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
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David Bennett