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MARKET RECAP*

  • The stock market returned modest gains in August as the US stock market continued its positive momentum
  • The S&P 500 finished the month with a positive 3.3% return, reaching a new record high
    • ┬áTop Sectors: Technology (+6.9%), Consumer Discretionary (+5.1%), Health Care (+4.4%)
    • Bottom Sectors: Energy (-3.3%), Materials (-0.5%)
  • Large Cap Growth beat Large Cap Value in August by a wide margin (+4.0%)
    • Growth beat Value by its widest spread in over nine years
  • Small Cap stocks gained 4.3% on the month, outperforming both large and mid-cap stocks
  • International Developed countries continued to underperform U.S. stocks by 5.0% on the month
  • Emerging Markets lost 3.7% on the month as the dollar weakened across emerging market nations
  • Long-Term Treasury yields declined slightly on the month as the Fed became less likely to raise rates
    • The ten-year Treasury yield ended the month at 2.86%, 10 basis points lower than last month

 

ECONOMIC NEWS**

  • The economy created 201,000 jobs in August, coming in above expectations of 195,000
    • However, the jobs created in June and July were revised down by 50,000
  • Unemployment rate remained flat at 3.9% this month
  • Wages rose 2.9% for all workers in August, surpassing expectations of 2.8%
  • Core inflation was raised to 2.4% in August, as the Fed looks to raise rates in the upcoming months

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*Merrill Lynch**Bloomberg. Charts are shown for illustrative purposes only. Respective services provided by ARGI Investment Services, LLC, a Registered Investment Adviser, ARGI CPAs and Advisors, PLLC, ARGI Business Services, LLC, and Advisor Insurance Solutions. All are affiliates of ARGI Financial Group.