MARKET RECAP*
- The stock market returned slight gains in September as escalating trade tensions halted returns
- The S&P 500 finished the month with a positive 0.4% return, a historically weak month for the S&P 500
- Top Sectors: Communication Services (+4.3%), Health Care (+2.8%), Energy (+2.4%)
- Bottom Sectors: Real Estate (-3.2%), Financials (-2.4%), Materials (-2.3%)
- Large Cap Growth beat Large Cap Value in September by a slight margin (+0.4%)
- Growth extended its leadership over Value to 13%+ for the year
- Small Cap stocks lost 2.3% on the month, underperforming both large and mid-cap stocks
- International Developed countries slightly outperformed U.S. stocks by 0.4% on the month
- Emerging Markets lost 0.6% on the month as trade tensions continue to linger
- Long-Term Treasury yields declined modestly on the month as the Fed rose rates this month
- The ten-year Treasury yield ended the month at 3.05% and continues to significantly rise
ECONOMIC NEWS**
- The economy created 134,000 jobs in September, coming in below expectations of 168,000
- However, the jobs created in July and August were revised up by 87,000
- Unemployment rate was lowered to 3.7% this month
- Wages slightly fell to 2.8% for all workers in September, lowering from its 9-year high of 2.9% last month
- Core inflation was lowered to 2.2% in September
