Author: Zac Martin, Investment Associate
Week Ending August 29th – Delay Selling in May
Labor Day Weekend signals the end of summer which means its time to check up on the old adage, “Sell in May and go away.” Below is a table that highlights two scenarios’, holding throughout this past summer and selling out after May. For investors with US exposure the summer was the best part of the year with the Nasdaq and S&P 500 climbing 9.99% and 9.80%, respectively.
Personal Consumption Expenditures for July reaccelerated to 2.9% year-over-year. This surprise led to a -0.60% decline in the S&P 500 during trading on Friday. An acceleration with inflation could prompt the Federal Reserve to maintain the current rate policy, the market may be concerned about this risk. According to the CME FedWatch Tool, the market is currently expecting a cut in September’s meeting but not in October.
The 2nd preliminary reading for Q2 2025 GDP was revised higher to 3.3% from 3.0%. This was primarily due to an increase in nonresidential investments as well as a slight increase to consumer spending. Net exports remained the highest contributor to the reading with an estimated growth of nearly 5%.
The Week Ahead:
- JOLTS report (9/3)
- ISM PMIs (9/4)
- Unemployment & Nonfarm Payrolls (9/5)
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