Historically Bearish Month Kicks Off with Record Highs

Market Overview - The month of September historically begins with bearish trends, marked by a broad-market selloff due to tariff updates, rising bond yields, and profit-taking in the tech sector [1] - Despite the initial selloff, the S&P 500 Index and Nasdaq Composite Index reached record highs by the end of the week, while the Dow Jones Industrial Average faced its second consecutive weekly loss [1] Employment Data - Weak employment data was a focal point for investors, influencing perceptions of the labor market and the potential for a rate cut in September [2] - The Job Openings and Labor Turnover report indicated approximately 7.18 million job listings in July, falling short of expectations and marking only the second reading below 7.2 million since 2020 [2] - The ADP private payrolls report also underperformed expectations, and the August jobs report revealed only 22,000 jobs added, significantly below the anticipated 75,000 [2] Individual Company Movements - Alphabet (GOOGL) reached record highs, positively impacting the tech sector after avoiding a breakup in the Department of Justice's antitrust case [3] - Apple (AAPL) also benefited from Alphabet's performance amid its own antitrust lawsuit [3] - PepsiCo (PEP) saw its stock rise following news of activist investor Elliott Investment Management acquiring a $4 billion stake, citing a "rare" and "historic" turnaround opportunity [3] - Several companies reported earnings, including Nio (NIO), Dollar Tree (DLTR), Macy's (M), Zscaler (ZS), Salesforce (CRM), American Eagle (AEO), Lululemon (LULU), and Broadcom (AVGO) [3] Future Outlook - Upcoming inflation data will be crucial for market participants, and 35 ETFs are highlighted for monitoring following the recent surge in the S&P 500 [4] - The start of the football season is noted as a time for strategic approaches applicable to both fantasy football and options trading [4]