Market Pulse

Sep 27

  IndexLast Week1-Month (Trailing)YTD
DJIA
      +0.28%
      -3.26%
      +7.83%
S&P 500
      +1.21%
      +0.86%
      +13.12%
Nasdaq
      +2.06%
      +3.51%
      +16.46%
Russell 2000
      -0.80%
      -5.73%
      +14.33%
MSCI EAFE
      +0.18%
      -3.27%
      +9.48%
MSCI EM
      +1.26%
      +1.66%
      +23.81%
Bloomberg U.S. Agg
      -0.88%
      -2.57%
      -2.28%
Bloomberg U.S. Corp HY
      -0.90%
      -1.70%
      +1.02%
Data as of: Friday, September 25, 2026

See important disclosures below.

Weekly Recap

09/21/2026 - 09/25/2026

U.S. Economy

September PMI surged, reinforcing inflation and rate-hike concerns.

Fed officials signaled further tightening may be warranted.

Equity Market

S&P 500 and Nasdaq advanced, led by AI enthusiasm.

Small caps fell as sharply higher yields weighed.

Bond Market

Treasury yields surged amid strong data, hawkish Fed rhetoric.

Weak auctions compounded pressure across the Treasury curve.

Around the Globe

Oil fell as Middle East supply flows improved.

Norway raised rates; Sweden signaled possible year-end tightening.

The Week Ahead…

09/28/2026 - 10/02/2026

```
Mon
```
- ```
Vail Resorts earnings
```

Tue

```
JOLTS Job Openings (Aug)
```
```
Consumer Confidence (Sep)
```
```
Carnival, CarMax earnings
```

Wed

```
ADP Employment Report (Sep)
```
```
Core PCE (Aug)
```

Micron, Conagra, FactSet, Jabil earnings

Thu

```
ISM Manufacturing (Sep)
```
```
Weekly Jobless Claims
```
```
Accenture, Nike, McCormick earnings
```

Fri

```
Nonfarm Payrolls (Sep)
```
```
Unemployment Rate (Sep)
```
```
Average Hourly Earnings (Sep)
```

Markets enter the week with rates firmly in focus following a sharp Treasury selloff driven by stronger economic data, hawkish Fed commentary and weak auction demand. Tuesday brings August JOLTS and September Consumer Confidence, offering an early read on labor demand and household sentiment.

Wednesday is particularly busy, with ADP payrolls and August Core PCE providing important signals on employment and inflation. Investors will also digest earnings from Micron, Conagra, FactSet and Jabil. Thursday brings September ISM Manufacturing and weekly jobless claims, while Accenture, McCormick and Nike headline the corporate calendar.

Friday’s September employment report should be the week’s biggest macro catalyst. Payroll growth is expected to slow meaningfully from August, while unemployment and wage growth will help shape expectations for additional Federal Reserve tightening. Markets will be watching closely for evidence that economic momentum remains strong enough to sustain elevated rates.

-Matt Shaw, CFA

Like this update? Sign up for our Daily Market Update.

This report and the opinions provided herein are for informational purposes only, are not a solicitation, and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or investment. All opinions expressed herein constitute the author’s judgement as of the date of this document and are subject to change without notice. Statements made are not facts, including statements regarding trends, market conditions and the experience or expertise of author are based on current expectations, estimates, opinions and/or beliefs. Such statements are not facts and involve known and unknown risks, uncertainties and other factors. Past events and trends do not predict or guarantee or indicate future events or results. Information cited in this report has been drawn from sources believed to be reliable and was captured at a point in time. Therefore, the data is subject to change and its accuracy is not guaranteed. DJIA, S&P, Russell 2000, and NASDAQ indices are referenced directly; MSCI EAFE, MSCI EM, BB U.S. Aggregate, Bloomberg U.S. Corp. HY, and all sector figures refer to the respective ETFs as a representative figure. Ategenos Capital, LLC d/b/a AC Wealth Partners does not own or control and is not affiliated with any third-party content provided via hyperlink, quoted, or cited herein. Investors seeking more information should contact their financial advisor. Investing involves risk, including the possible loss of principal. It is not possible to invest directly in an index. Past performance does not guarantee future results. AC Wealth Partners is an investment adviser registered with the SEC. SEC registration does not imply any specific level of training or skill.

Matt Shaw