Meanwhile, global stocks historically struggle in September. Each week, the Syz investment team takes you through the last seven days in seven charts.

Most U.S. equity indexes finished the holiday-shortened week higher. The Nasdaq Composite finished the week 1.14% higher, supported by shares of Apple and Google parent Alphabet, which both rose in the wake of an antitrust ruling that some investors viewed as less severe than expected. Smaller-cap stocks, which can be more sensitive to interest rate movements than larger companies, also advanced for the week. The S&P 500 Index added 0.33%, while the Dow Jones Industrial Average lost 0.32%. The week’s economic calendar brought several reports that painted a bleak picture of the health of the U.S. labor market.

The feud between President Trump and the Fed escalated further last week and France faces another episode of political instability. Long-term yields are rising on inflation and fiscal concerns, while credit and EM spreads widened.

Each week, the Syz investment team takes you through the last seven days in seven charts.

Most U.S. equity indexes ended the week modestly lower on relatively light trading volumes as markets headed into a holiday weekend and the unofficial end of summer. Small-cap stocks outperformed the S&P 500 Index for the third week in a row. Meanwhile, the Dow Jones Industrial Average logged a new record high during the week before losing ground on Friday, ultimately finishing the week lower. Much of the attention was focused on chipmaker NVIDIA’s earnings release after the market closed on Wednesday. Nvidia reported results that generally beat consensus estimates, and while the stock pulled back some on Thursday, the numbers appeared strong enough to ease some recent concerns around the AI-driven rally that has helped propel indexes to all-time highs this year.

Jerome Powell’s speech in Jackson Hole led to a sudden drop in USD yields that fueled positive performance for sovereign bonds, but also credit and EM markets that continue to attract substantial inflows

Meanwhile, US national debt keeps climbing and Palantir faces an uncharacteristically hard week. Each week, the Syz investment team takes you through the last seven days in seven charts.

The S&P 500 Index rallied on Friday and ended modestly higher after losing ground for the first four days of the week. Federal Reserve Chair Jerome Powell’s prepared remarks on Friday morning at a symposium in Jackson Hole, Wyoming, appeared to open the door to rate cuts, lifting investor sentiment. The dollar dumped as stocks, bonds, gold, crypto, and oil all ripped higher. US small caps led the charge higher on Friday ripping over 3% higher on the week. The Dow closed at its first new record high since December.

Chairman Powell, Fed policy, and central bank independence

Interest rates rise on inflation and public debt level concerns, while demand remains firm for corporate credit and EM bonds