📈 TL;DR – Last Week in 60 Seconds
Stocks slipped a touch last week as investors digested Friday’s inflation update. The Personal Consumption Expenditures (PCE)* report showed price pressures still easing, keeping hopes alive for policy relief from the U.S. central bank. Gold finished strong and extended gains early Monday as the dollar eased. A possible U.S. government shutdown this week could delay Friday’s jobs report and inject new volatility.
Quick Levels → Last week’s change
S&P 500: 6,643.70 | ↓0.16%
Nasdaq 100: 24,503.85 | ↓0.34%
Dow: 46,247.29 | ↑0.09%
Russell 2000: 2,434.32 | ↓0.47%
Gold/oz: $3,760.24 | ↑1.99%
Bitcoin (BTC): $109,930 | ↓4.79%
U.S. Dollar Index (DXY): 98.15 | ↑0.51%
Source: Chip Somodevilla/Getty Images
🚀 Top Movers Last Week
Intel (INTC): ↑19.65% — Nvidia disclosed a $5B stake; rumors of possible Apple investment. Investors bet on Intel’s foundry pivot and AI turnaround.
Lithium Americas (LAC): ↑94.77% — Reports say Trump Administration seeking to take up to 10% stake to secure US lithium supply.
Electronic Arts (EA): ↑11.32% — $50B take-private talks surfaced; buyout hopes lifted shares to record highs.
GlobalFoundries (GFS): ↑8.18% — U.S. chip policy tailwinds and reshoring buzz boosted domestic foundry sentiment.
Costco (COST): ↓3.70% — Strong results, but valuation concerns sparked post-earnings profit taking.
Micron (MU): ↓3.36% — Beat and raised, yet expectations and cycle worries drove a fade.
🗺 Market Map
Inflation came in as expected. August PCE rose 0.3% month-over-month (core 0.2%), easing fears the U.S. central bank will delay cuts; stocks still finished the week lower.
Policy watch: New U.S. tariff headlines (drugs, vehicles) added an inflation wrinkle and supply-chain uncertainty—key for margins and rate-cut timing.
D.C. funding deadline looms (Oct 1). Markets prefer a short-term patch; shutdown risk adds headline volatility for rates, defense contractors, and consumer confidence.
Tech was choppy. Intel ripped on funding chatter while other AI names faded—classic “good news, narrow leadership” dynamic that can mask broader softness.
The dollar firmed. A stronger dollar pressures commodity prices and U.S. multinationals’ overseas sales, adding a mild headwind if the move extends.
🛒 Buy Zone
Long-term investors: Watch U.S. “make-it-here” themes. Higher tariffs on branded drugs, furniture, and trucks could steer capex toward domestic plants. Industrials and materials with U.S. footprints may benefit, while pharma importers face margin pressure if exemptions lapse. Guardrail: legal challenges or carve-outs could blunt effects—stay diversified.
Short-term traders: Oct 1 tariff start is a volatility spark. Look for quick reactions across pharma distributors, furniture retailers, and truck supply chains; fades are possible if exemptions dominate headlines. Guardrail: event risk around announcements and lawsuits—size positions small.
💡 Signal Spotlight
The New Tariffs, Explained
New tariffs hit Oct 1: 100% on branded drugs* (with “building in U.S.” exemptions), plus 25–50% across heavy trucks*, cabinets, and furniture. Exemptions and legal tests mean uneven impact. Likely winners: firms already localizing production. Likely pressure: import-heavy categories and middlemen if costs rise. Inflation effect looks modest on CPI weights but could sting payers. Watch court filings and any foreign responses.
👀 What to Watch
Tue, Sep 30 — U.S. government funding deadline*: a lapse could delay data and dent sentiment.
Tue, Sep 30 — Consumer Confidence: spending pulse into the holidays.
Tue, Sep 30 — JOLTS* (Aug): job openings signal hiring momentum.
Wed, Oct 1 — Tariffs take effect: Exemption details and court actions could move sectors.
Wed, Oct 1 — ADP jobs: early read on private payrolls before NFP.
Wed, Oct 1 — ISM Manufacturing PMI*: production and new orders snapshot.
Fri, Oct 3 — NFP (Employment Situation): headline labor report for September.
📚 Decoder
Branded drugs: Patented medicines sold under proprietary names.
Heavy trucks: Large commercial vehicles for freight and vocational use.
ISM Manufacturing PMI: Survey of factory activity; 50 = expansion line.
JOLTS: Job openings, hires, and quits; gauges labor demand.
Personal Consumption Expenditures (PCE): Broad inflation gauge from consumer spending; the Fed’s preferred measure.
U.S. government funding deadline: Deadline for Congress to pass spending or stopgap to avoid shutdown.
🕔 That’s your 5-minute guide to start the week. There’s more info out there…dive in! News is free; risk isn’t.
We’ll be back to check-in on Thursday at 7 AM ET.
Educational only—not investment advice.
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