Unify Financial Advisors Weekly Market Update
U.S. markets kicked off September on a mostly positive note, as investors balanced strong corporate earnings from companies like Dell with a stronger-than-expected jobs report and the prospect of Fed rate hikes. The Nasdaq and S&P 500 gained 0.40% and 0.09%, respectively, while the Dow slipped 0.27%. Crude oil jumped nearly 9.5% amid continued U.S.-Iran tensions.
The August jobs report showed payrolls increasing by 162,000, while the unemployment rate held at 4.1%. The solid jobs report increased the probability of a 0.25% Fed rate hike at its September 16th meeting to 59%. U.S. markets were closed Monday for Labor Day, a federal holiday honoring American workers and the contributions of the labor movement.
Weekly Outlook
The focus this week will be on August inflation data, with investors watching the upcoming Consumer Price Index (CPI) and Producer Price Index (PPI) reports.
Please read the full Market Week report for additional details on last week’s market and economic activity.
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