With less than two weeks left in September, the stock market’s modest decline since the beginning of the month threatens to end the S&P 500’s streak of seven consecutive positive months. Other surprises emerged during the week, such as the possibility of a lower than initially expected infrastructure spending package of USD 1.5 trillion, as opposed to the initially proposed USD 3.5 trillion. Additionally, consumer prices rose by 0.1% in August, falling short of the 0.3% consensus.
The U.S. Federal Reserve is expected to explore when to trim its bond-purchasing stimulus program on Wednesday, as an initial step toward broadly tightening its monetary policy. Recently uneven economic data has fuelled talks among economists that the Fed may hold off on setting a specific tapering date while tying policy changes to job growth in September and beyond.
One Signal Xpress and Xpert both outperformed the S&P 500 this week, with 0.70% and 0.97% respectively, compared to -0.57% for the S&P 500.