Market Pulse

Oct 4

  IndexLast Week1-Month (Trailing)YTD
DJIA
      -1.26%
      -3.55%
      +6.48%
S&P 500
      -0.27%
      +0.73%
      +12.81%
Nasdaq
      +0.45%
      +3.71%
      +16.99%
Russell 2000
      -0.16%
      -4.07%
      +14.14%
MSCI EAFE
      -1.69%
      -3.34%
      +7.63%
MSCI EM
      -1.35%
      +0.49%
      +22.13%
Bloomberg U.S. Agg
      -0.56%
      -2.33%
      -2.83%
Bloomberg U.S. Corp HY
      -0.86%
      -2.42%
      +0.15%
Data as of: Friday, October 2, 2026

See important disclosures below.

Weekly Recap

09/28/2026 - 10/02/2026

U.S. Economy

September payrolls rose just 29K, missing expectations sharply.

Fed officials signaled less urgency for additional tightening.

Equity Market

Major indices fell as weak market breadth persisted.

Semiconductors gained 3.7%, extending their five-week winning streak.

Bond Market

Treasury curve steepened as long-term yields reached multiyear highs.

Short-term yields eased alongside declining Fed hike expectations.

Around the Globe

Gold fell 3.7% while silver declined 6.8%.

WTI crude fell 1.4%, its third consecutive weekly decline.

The Week Ahead…

10/05/2026 - 10/09/2026

Mon

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Services PMI Final
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ISM Non-Manufacturing Index
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Tue

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Trade Balance
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Lamb Weston, RPM International earnings
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Constellation Brands earnings
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Wed

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FOMC Minutes
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Consumer Credit
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Levi Strauss, Applied Digital earnings
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Thu

```
Weekly Jobless Claims
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Wholesale Inventories
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PepsiCo earnings
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Fri

Michigan Consumer Sentiment (Preliminary)

```
Delta Air Lines earnings
```

Markets enter the new week focused heavily on incoming economic data and the Federal Reserve after softer September payrolls and more measured commentary from policymakers reduced expectations for another near-term rate increase. Monday brings final Services PMI data and the ISM Non-Manufacturing Index, followed by Tuesday’s trade balance report.

Wednesday should command particular attention with the release of the September FOMC minutes, offering investors additional insight into policymakers’ thinking following the latest rate increase. Consumer credit is also due, while Thursday features weekly jobless claims and wholesale inventories.

Friday closes the week with preliminary Michigan Consumer Sentiment, providing another look at household confidence and inflation expectations. Earnings activity remains relatively light ahead of the broader Q3 reporting season, with notable results expected from Lamb Weston, Constellation Brands, Levi Strauss, Applied Digital, PepsiCo and Delta Air Lines. Treasury supply will also remain in focus following the recent rise in longer-term yields.

-Matt Shaw, CFA

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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