By: Gerry Sparrow
Stocks made gains last week, even as megacap tech gains outweighed economic concerns.
The Standard & Poor’s 500 Index advanced 0.33 percent, while the Nasdaq Composite Index rose 1.14 percent. The Dow Jones Industrial Average descended 0.32 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, gained 0.04 percent.1,2
Tech Gains, Jobs Slow
Markets started the week on shaky ground. The Dow Industrials, S&P 500, and Nasdaq each slipped downward more than half a percentage point. Tariff uncertainty rose again, as a court ruling injected fresh doubt. Meanwhile, rising Treasury yields amplified volatility and rattled megacap tech names.3
By Tuesday, stocks managed a partial rebound, and market direction shifted. Tech bounced back the next morning—led by two megacap tech stocks’ gains—with one soaring after avoiding an antitrust penalty.4
On Thursday, softer private hiring data and rising layoff trends fueled hopes of an imminent Fed rate move, with the S&P hitting a fresh record close. Treasury yields dropped significantly on rate-cut speculation, reinforcing risk appetite. The mood shifted again on Friday. A surprisingly weak jobs report undercut market optimism.5,6
Source: YCharts.com, September 6, 2025. Weekly performance is measured from Friday, August 29, to Friday, September 5. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.
Focus on Jobs
Friday’s employment report fell short, as employers created fewer jobs last month.
Unemployment increased to 4.3 percent in August from 4.2 percent the prior month, hitting a 4-year high. Job growth slowed to 22,000 jobs in August, after much higher expectations of 75,000. In addition, a revision of the June estimate decreased the number by 27,000 jobs.7
This Week: Key Economic Data
Monday: Consumer Credit.
Tuesday: NFIB Small Business Optimism Index.
Wednesday: Producer Price Index (PPI). Wholesale Inventories.
Thursday: Consumer Price Index (CPI). Weekly Jobless Claims. Federal Budget.
Friday: Consumer Sentiment.
Source: Investors Business Daily – Econoday economic calendar; September 5, 2025
The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
Originally posted on September 9, 2025
PHOTO CREDIT: https://www.shutterstock.com/g/ChristianChan
VIA SHUTTERSTOCK
FOOTNOTES AND SOURCES:
1. WSJ.com, September 5, 2025
2. Investing.com, September 5, 2025
3. CNBC.com, September 2, 2025
4. CNBC.com, September 3, 2025
5. CNBC.com, September 4, 2025
6. WSJ.com, September 5, 2025
7. MarketWatch.com, September 5, 2025
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