Major Markets Slip Ahead of Labor Day, but S&P 500 Hits Fresh High

The Domestic Markets took a breath last week as all five of the Major Markets closed lower. The slight loss for the week hid the fact that the S&P 500 managed to step into a new all-time closing high Thursday before ending the week slightly lower ahead of the long Labor Day weekend. 

 
The Style Boxes didn’t demonstrate any clear out or under performance as all 9 style boxes effectively ended with a half percent of each other. At the sector level, performance was polarized as the gains were limited to Energy, Financials, and Communication Services. Meanwhile the other 8 sectors closed lower with the greatest losses in Utilities and Consumer staples. 

 
While the week ended on a somewhat muted note, the Major Markets added gains across the board in August. For the S&P 500, August represented the fourth consecutive month of gains. While each month saw successively lower positive returns, this summer managed to disprove the old adage of Sell in May and Stay away until Saint Ledger’s Day.  

 

Major Markets		YTD as of 08/29/2025
	Nasdaq
	Dow Jones Industrial
	S&P 500
	MSCI World
	MSCI EM
	Russell 2000
	Bar US Agg Bnd

S&P Sectors		YTD as of 08/29/2025
	Comm. Services
	Cons. Discretionary
	Cons. Staples
	Energy
	Financials
	Health Care
	Industrials
	Info. Technology
	Materials
	Real Estate
	Utilities
		Agent/Broker Dealer Use Only

In the bond market, Treasuries saw the yield curve drop slightly. The yield curve stepped down across the durations with a slight steepening in the 20 and 30-year end of the curve. This had the benefit of creating some segments of green in the overall bond market. Investment grade corporates were the notable exception as they stumbled slightly last week. 

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