Economic Overview - The U.S. nonfarm payroll report for August showed only 22,000 jobs added, significantly below the expected 75,000, with the unemployment rate rising to 4.3%, the highest since late 2021 [1][2] - The June jobs data was revised down by 27,000 jobs, resulting in a net loss of 13,000 jobs, marking the first contraction since the pandemic [2][3] - The weak job creation and rising unemployment indicate a sharper economic slowdown than anticipated, despite climbing inflation [3] Market Reactions - Initially, Wall Street reacted positively to the jobs data, speculating that it would lead to a rate cut by the Federal Reserve in September [2][4] - However, as traders reassessed the implications of the jobs data, the optimism faded, leading to a focus on the broader economic slowdown [3] Federal Reserve Speculation - Traders are now seeing a 14% chance of a 50-basis-point rate cut in September, up from zero the day before the jobs report [4] - It is widely expected that the Fed will cut rates by a quarter point at its next meeting on September 17, moving from the current 4.25% to 4.50% range [5] Gold Market Insights - Following the disappointing jobs numbers, gold prices surged, breaking through previous resistance levels, with a noted increase of about 1% on the day of the report [5][20] - Gold is forming a bullish "ascending triangle" technical pattern, suggesting potential for continued upward movement [8][20] - Top-tier gold miners, such as Westgold Resources, have seen significant gains, with Westgold up 45% over the last month, while gold itself has only climbed 5% [17] Investment Strategy - The current economic conditions and gold's performance suggest it may serve as a good hedge for portfolios if the stock market declines [21] - There is an emphasis on the potential of overlooked gold stocks to deliver substantial returns, especially in a challenging investment environment [21][22] - The company has developed a stock-picking algorithm called Apogee, which aims to identify high-potential stocks based on historical data and market trends [23][26]

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]

Core Insights - September is typically a weak month for the stock market, but it presents opportunities for investors willing to take on risk, particularly in Acadian Asset Management and AllianceBernstein, which have recently dipped below their 52-week highs [1][2] Financial Performance - Acadian Asset Management reported a record AUM of $151.1 billion, while AllianceBernstein reached an all-time high AUM of $829 billion, driven by strong global equity inflows [5] - Acadian's EPS estimates for fiscal years 2025 and 2026 have increased by 17% and 26%, respectively, with an expected annual earnings surge of 35% this year and a projected 21% increase in FY26 to $4.50 per share [6][7] - AllianceBernstein's FY25 EPS estimates have risen by 4% in the last two months, with FY26 revisions up by 7%, forecasting a 2% expansion in FY25 and an 11% increase next year to $3.69 per share [7] Valuation Metrics - Both Acadian and AllianceBernstein are trading at forward P/E multiples of 11X, significantly lower than the broader Zacks finance sector's 19X and the S&P 500's 24X, indicating attractive valuation [8] Investment Outlook - Acadian Asset Management holds a Zacks Rank 1 (Strong Buy) and is expected to rebound from its 52-week high of $51 per share, while AllianceBernstein has a Zacks Rank 2 (Buy) and is projected to return to its one-year peak of $43 per share, offering a 7.71% annual dividend yield [11]

Economic Indicators - The jobs data is anticipated to influence Federal Reserve's decision on rate cuts, with a 97% chance of a cut in September according to the FedWatch tool [3][4] - Inflation remains persistent, with PCE showing an annual growth of 2.9%, and CPI expected to reflect similar trends [5][6] Precious Metals Market - Gold prices are reaching record highs, while silver is also experiencing significant gains, indicating a strong interest in precious metals as an inflation hedge [6][7] Retail Sector Performance - Macy's reported a 21% increase in stock price post-earnings, reflecting signs of recovery despite facing tariff headwinds [11] - Dollar Tree's stock fell by 9% after earnings due to significant tariff impacts affecting low-end consumer spending [13][14] - American Eagle's stock surged by 26% following a successful marketing campaign, showcasing the potential for political spotlight to drive sales [15][16] Technology Sector Insights - Google’s stock rose by 9% after avoiding a forced sale of its Chrome browser amid antitrust scrutiny, indicating a favorable regulatory environment for big tech [20][22] - Salesforce's stock declined by 7% despite beating earnings expectations, raising questions about the effectiveness of AI integration into its business model [24][26] - Alibaba reported a 26% growth in its cloud business driven by AI, contrasting with Salesforce's struggles, highlighting the varying impacts of AI across companies [26] Upcoming Earnings and Market Trends - Adobe's upcoming earnings report is expected to reveal how effectively its AI investments are translating into revenue, similar to the scrutiny faced by Salesforce [27][28] - Broadcom's results will provide insights into the tech infrastructure supporting AI development, relevant for companies like Salesforce and Adobe [28][29]

The August jobs report was released moments ago, showing that the US added just 22,000 jobs last month, much much less than the 75,000 that economists expected. The unemployment rate also saw a slight increase to 4.3%. This, of course, the first jobs report released since President Trump fired the head of the Bureau of Labor Statistics last month after that report showed not just a weak level of job creation, but also a dramatic reductions in previous month's totals.There's no way to sugarcoat this. This jo ...

JUST IN: 🇺🇸 Traders now betting on a possible 50 bps rate cut at the next FOMC meeting in 12 days. 👀 ...

🔥 Gold hits record high as rate cut odds spike to 99% https://t.co/RNhgOwX6R1 ...

Market Expectations - Rate cut probabilities are at 98% with 13 days until the next FOMC meeting [1] Potential Impact on Cryptocurrency - The rate cut could be the catalyst Bitcoin needs to set a new high [1]

Core Viewpoint - Small-cap U.S. stocks may be experiencing a resurgence after a prolonged period of underperformance, with recent data indicating potential positive trends for small-cap investors [1] Performance Summary - The iShares Russell 2000 ETF (IWM) has increased by 6.3% over the past month, compared to a 2% gain in the SPDR S&P 500 ETF Trust (SPY) [2] - Year-to-date, SPY is up approximately 10%, while IWM has advanced about 5.7% [2] - Early-year weakness in small caps was largely attributed to President Trump's tariff announcements, which adversely affected smaller companies [2] Market Dynamics - Bank of America's client flow data indicates near-record demand for small-cap stocks, with clients purchasing $1.5 billion worth of small and micro-cap stocks and ETFs in the past week [3] - The Federal Reserve is expected to cut interest rates in September, with a 97.6% probability of a 25-basis point cut, which could benefit small-cap stocks and ETFs [4] Earnings Analysis - For the small-cap S&P 600 index, Q2 earnings are up 8.6% year-over-year, with revenues increasing by 3.4% [5] - 61.1% of small-cap companies beat EPS estimates, and 72.4% exceeded revenue estimates [5] - In comparison, S&P 500 companies reported a 12.4% increase in earnings and 6.0% higher revenues, with 79.9% beating EPS estimates [6] Valuation Insights - The Russell 2000 is currently trading at a P/E ratio of 32.75, up from 27.79 a year ago, indicating that small caps are not cheap and may be overvalued [8][9] - The Nasdaq 100 Index has a P/E ratio of 32.97, while the S&P 500 Index is at 25.15, reflecting a relative valuation perspective [9] Economic Context - U.S. GDP grew by 3.3% in Q2 2025, rebounding from a 0.5% decline in Q1, driven by stronger consumer spending and private investment [10] - Job openings fell to 7.181 million in July, below expectations, which may signal potential weakness in the labor market [11] Investment Opportunities - Value and blend small-cap ETFs have outperformed growth ETFs over the past month, with notable performers including: - Invesco S&P SmallCap 600 Pure Value ETF (RZV) – Up 11.0% - Invesco S&P SmallCap Value with Momentum ETF (XSVM) – Up 9.9% - iShares US Small Cap Value Factor ETF (SVAL) – Up 9.1% [12]

>> THIS IS THE CLOSE. ROMAINE: ALPHABET AND APPLE TRYING TO KEEP THE BULL RUN GOING. LIVE FROM BLOOMBERG HEADQUARTERS IN NEW YORK.KATIE: KICKING OFF TO THE CLOSING BELL. THOSE TWO NAMES TRYING THEIR BEST BUT WE CAN SEE THE MOMENTUM FADING AS WE SPEAK, THE S&P 500 HIGHER BY ABOUT 1/10 OF A PERCENT IF YOU ROUND UP. WE WERE HIGHER I MUCH MORE EARLIER IN THE SESSION BUT DROPPING A BIT.BIG TECH IN THE LEAD TODAY, YOU CAN SEE THAT IN THE NASDAQ 100. EVEN THEY ARE SEEN GAINS COME IN ALL BECAUSE WE GOT WEAKER JOBS ...