Weekly Market Bullets

for the week ending 9/25/2026

• US Equity Markets were mostly higher last week as technology strength masked broader market weakness amid a sharp rise in interest rates. The S&P 500 rose 1.2% for the week and is now up 13.1% for the year. The S&P 500 Equal Weight index, which typically reflects the average stock, fell 0.6% for the week and is now up 10.2% for the year. The Nasdaq rallied 2.1% for the week as strength in mega-cap tech stocks continued to bring its gains for the year to 16.5%. The Russell 2000 (small cap stocks) dropped 0.8% for the week, again impacted by higher rates, and is now up 14.3% for the year.

• Global Equity Markets rose last week due to positive economic data out of Europe and a tech-driven rally in Asia. Developed Markets were up 0.1% for the week and are now up 9.0% for the year. Emerging Markets increased 2.0% for the week to bring their gains for the year to 24.3%.

• Strong economic data and inflation concerns push US Interest Rates to 20-year highs. The US Composite Purchasing Managers Index (PMI), which measures business activity, accelerated to its fastest pace in over five years on broad-based strength, raising further inflation worries. As a result, the yield on the US 10-Year Treasury hit a 20-year high before closing the week at 5.16% vs. 4.99% the prior week.

• The Net Worth of the Bottom 50% is hitting all-time highs. According to the Federal Reserve, the net worth of the bottom 50% in wealth in the US sat at $4.28 trillion at the end of Q2 2026, a record level and more than double levels seen prior to COVID. Most of that increase comes from the rise in housing prices, but it may help explain why consumer spending has remained resilient given the poor sentiment seen in various consumer surveys.

Market Data

for the week ending 9/25/2026