Market Recap – September 15th 💰

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Market Recap – September 15th

On Friday’s trading day, markets continued to pull back as investors began to shift their perspective on the economy’s performance. New inflation data for the month of August depicted numbers that grew larger than what economists suggested, adding credence to an interest rate hike this week. Regardless, both the S&P and the Nasdaq suffered their second consecutive week of losses, with the Dow Jones shedding some value as well. On Friday, the S&P 500 dropped 1.22%, the NASDAQ Composite went down 1.56%, and the Dow Jones fell 0.83%. For individual companies, two big market movers for the day were Planet Fitness and Adobe. Gym chain Planet Fitness saw losses in its share price by 15.87% following the board’s executive decision to remove Chris Rondeau as CEO. Computer software titan Adobe also fell into the red, losing 4.21% after reporting earnings that although met expectations, did not win over investors when factoring macroeconomic pressures.

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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

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