Weekly Market Snapshot

Download the Weekly Market Snapshot to stay up-to-date with stock markets and sectors, bond market returns and financial news for the week.

News Last Week

  • Tuesday morning the Dow fell 300 points in response to a new round of tariffs that were launched by the U.S. against China over the weekend, with China retaliating with new levies that included a 5% duty on U.S. crude oil.
  • Tuesday the pound dropped below $1.20 before recovering when the British Parliament voted to block Prime Minister Boris Johnson from pulling the UK out of the EU without a deal.
  • Wednesday stocks rallied after Hong Kong Chief Executive Carrie Lam announced the highly controversial extradition bill was being completely withdrawn.
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  • Wednesday Starbucks stock fell on a disappointing outlook, and Walmart announced it would stop selling ammunition for military style weapons. Apple revealed a plan to raise between $4 and $5 billion in the bond market for the first time since the Trump corporate tax cuts. The proceeds will go to share buybacks, dividends and other general corporate purposes.
  • Thursday the Dow jumped 450 points in early trade after China and the U.S. agreed to continue trade talks in October.
  • Thursday Slack shares plunged 15% on weak earnings guidance.
  • Friday, people familiar with the situation, said WeWork is reconsidering its IPO. Large institutional investors are indicating they may only value the company at around half the company’s private $47 billion valuation.
  • Wall Street analysts indicated they expect a quarter-point rate cut at the Fed meeting later this month after August’s weaker-than-expected jobs report. Speaking at a forum in Zurich, Fed Chairman Powell said Friday that lower rates were helping to keep the economy in a good place.
  • Monday: Labor Day Holiday
  • Tuesday: Markit Manufacturing PMI for August rose to 50.3 from the earlier flash reading of 49.9.
  • Tuesday: ISM Manufacturing Index for August fell to 49.1%, the first reading below 50% in 35 months.
  • Thursday: Weekly Jobless Claims for week 8/31 were 217,000. Thursday: ADP Employment rose 195,000, higher-than-expected.
  • Thursday: Markit Services PMI for August came in at 50.7.
  • Thursday: ISM Non-manufacturing Index for August was 56.4%.
  • Thursday: Factory Orders for July rose 1.4%.
  • Friday: Non-farm Payrolls for August were 130,000. The unemployment rate remained at 3.7%, and average hourly earnings rose 0.4% or 3.2% year-on-year. Over the past 3 months, wage growth is rising at 4.2% annualized.

News Next Week

  • Tuesday: NFIB Small Business Index for August at 6.00am.
  • Tuesday: JOLT Survey for July at 10.00am.
  • Wednesday: Producer Price Index for August at 8.30am.
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  • Thursday: Weekly Jobless Claims for week 9/7 at 8.30am.
  • Thursday: Consumer Price index for August at 8.30am.
  • Thursday: Core CPI for August at 8.30am.
  • Friday: Retail Sales for August at 8.30am.
  • Friday: Consumer Sentiment Index for August at 10.00am.

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