Market Pulse

Index	Last Week	1-Month (Trailing)	YTD
DJIA	-1.57%	-2.27%	+9.38%
S&P 500	-0.80%	-0.92%	+11.85%
Nasdaq	-0.66%	-0.43%	+13.30%
Russell 2000	-2.41%	-4.07%	+17.00%
MSCI EAFE	-1.39%	-1.59%	+10.42%
MSCI EM	-0.28%	+3.37%	+22.59%
Bloomberg U.S. Agg	-0.92%	-0.97%	-1.31%
Bloomberg U.S. Corp HY	-0.58%	-0.37%	+1.97%

Data as of: Friday, September 11, 2026

See important disclosures below.

Weekly Recap

09/07/2026 - 09/11/2026

U.S. Economy

• August core CPI ran hotter, strengthening September hike expectations.

• Trump pledged $5,000 dividends if Republicans win midterms.

Equity Market

• S&P 500 and Nasdaq snapped two-week winning streaks.

• Energy and communications outperformed as healthcare lagged.

Bond Market

• Treasury yields rose sharply across the curve.

• Buybacks failed to calm long-end debt concerns.

Around the Globe

• Iran conflict pushed oil above $100 before Friday pullback.

• ECB raised rates 25 basis points to 2.50%.

The Week Ahead…

09/14/2026 - 09/18/2026

• Mon

  • Canada CPI

  • Europe CPI

  • Asia retail sales

• Tue

  • Empire Manufacturing (Sep)

  • ADP Weekly Employment Change

  • API crude inventories

• Wed

  • FOMC decision and projections

  • Retail Sales (Aug)

  • Earnings: Lennar

• Thu

  • Weekly Jobless Claims

  • Housing Starts (Aug)

  • Pending Home Sales (Aug)

• Fri

  • Industrial Production (Aug)

  • Capacity Utilization

  • Leading Indicators

The September FOMC meeting will dominate the week, with Wednesday’s rate decision and updated economic projections arriving after a hotter-than-expected August CPI report. Markets have moved toward expecting a 25 bp hike as oil prices above $100 and firmer inflation readings complicate the Fed’s policy outlook.

The economic calendar is also busy. Retail sales and import/export prices arrive Wednesday, followed Thursday by jobless claims, housing starts, the Philadelphia Fed index and pending home sales. Friday brings industrial production, capacity utilization and leading indicators, giving investors a broader read on growth and demand.

Corporate earnings are comparatively light as the third quarter winds down, with Lennar the most notable large-cap report. The IPO calendar is more active, including American Savings Bank on Wednesday and Holtec Nuclear and Orion180 Insurance on Friday. With inflation, rates and energy markets already pressuring risk assets, Fed messaging should set the tone for markets next week.

-Matt Shaw, CFA

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