The Week on Wall Street
Stocks advanced last week as the broad market looked past inflationary pressures and focused on falling oil prices, declining bond yields, and ongoing diplomatic efforts in the Middle East.
The Standard & Poor’s 500 Index rose 1.22 percent, while the Nasdaq Composite Index advanced 2.06 percent. The Dow Jones Industrial Average edged up 0.28 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 0.15 percent.1,2
Choppy Trading
Stocks bolted out of the gate to start the week, rebounding thanks to AI stocks, falling oil prices, and bond yields. The Nasdaq hit a record intraday high during Monday’s session.
The broad market went sideways on Tuesday as traders kept an eye on developments in the Middle East, while oil prices and Treasury yields slid further.3,4
Markets then fell midweek amid investor concerns over comments from one Fed official and two inflation updates. All three major averages were under pressure. The malaise hung on into Thursday, but stocks began to climb late in the day on upbeat reports out of the Middle East.5,6
All three major averages continued their recovery Friday, ending the day with some momentum going into the close.7
Eyes on Bonds
Treasury yields hit multidecade highs last week due to a couple of factors.
The first was Federal Reserve Governor Michael Barr’s hawkish language on Wednesday, suggesting he was open to another rate adjustment at the October Fed meeting. And the second was the Purchasing Managers’ Index (PMI) reports for both manufacturing and services, which were also released on Wednesday. Both reports showed costs hit four-year highs for the month.8
This Week: Key Economic Data
Tuesday: S&P Cotality Case-Shiller Home Price Index. Consumer Confidence. Job Openings & Labor Turnover. Fed speeches: Austan Goolsbee (Chicago) & John Williams (NYC).
Wednesday: ADP Employment Report (private sector). Gross Domestic Product (GDP), Q2 (third estimate). Trade Balance in Goods. Wholesale & Retail Inventories. Personal Consumption Expenditures (PCE) Index. Fed President Goolsbee speaks.
Thursday: Weekly Jobless Claims. Purchasing Managers Index (PMI)—Manufacturing. Construction Spending.
Friday: Employment Report. Factory Orders.
Source: Investor’s Business Daily – Econoday economic calendar: September 25, 2026. 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 provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.
This Week: Companies Reporting Earnings
Wednesday: Micron Technology, Inc. (MU)
Thursday: Nike, Inc. (NKE)
Source: Zacks, September 25, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.
Source: YCharts.com, September 26, 2026. Weekly performance is measured from Monday, September 21 to Friday, September 25. 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.
Weekly Riddle
There is a 7-letter word that starts with BR and ends in G, and if you put an E in it, you get an 8-letter word that sounds the same yet has a different meaning. Name these two words.
Last Week’s Riddle: They are captured by mud and snow, left behind but never taken, and rarely seen in isolation. What are they?
Answer: Footprints.
John Dombroski Jr. may be reached at (480) 991-1055
or [email protected]
www.grandcanyonplanning.com
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