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Another week, another batch of records getting absolutely demolished. The Nasdaq ripped to fresh all-time highs while the S&P 500 decided to join the party with some solid weekly gains. Even the Dow managed to stay green despite looking a bit tired by Friday.
The Scoreboard That Matters
Nasdaq: Up ~2% to record close (AI bros eating good again)
S&P 500: Up ~1.6% (hit an intraday record then chilled)
Dow: Up ~1% (boomers still winning, just barely)
Why Everything Went Brrrr
Jobs Data = Chef's Kiss 👨🍳 August payrolls came in soft (+22k) with some gnarly downward revisions. Translation: the economy is cooling down without face-planting. Fed rate cut hope is now premium grade.
Inflation Playing Nice CPI hit 2.9% year-over-year, core dropped to ~3.1%. Nothing here to make Jerome Powell put on his scary face. Producer prices? Also behaving. Fed doves are chirping loudly.
Bonds & Oil Doing Their Thing 10-year yield chilling around 4.0-4.1% (growth stocks love this). Oil is sliding toward low-$60s because apparently we have too much of the black stuff. RIP Energy stocks.
Peak Skepticism Vibes Classic wall-of-worry action: investors pulling money OUT of equity funds even as we're hitting records. But AI money? Still flowing like a river. Never change, crypto degens... I mean, tech investors.
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Sector Winners & Losers
🏆 Winners: Tech/AI (shocking), Consumer Discretionary (lower rates = higher multiples = moon)
💀 Losers: Energy (oil said bye), Small caps (quality > cyclicals)
What's Cooking Next Week
Fed meeting Sept 17-18 is THE main character. Rate cut odds are looking good. Powell's press conference will either keep this soft landing dream alive or send everyone scrambling for the exits.
TL;DR for the Group Chat
Markets ripping on rate cut hopium
Jobs cooling, inflation behaving = Fed flexibility
Tech still the main character
Oil having a rough time
Everyone's skeptical but prices keep going up (classic)
Stay based, stay liquid 💎🤲