Author: Noel Castellanos

Date: September 30, 2025

Period Covered: September 1-30, 2025

Key Takeaways

Macroeconomic Developments

• Federal Reserve cut interest rates 25 basis points to 4.00-4.25% on September 17, citing labor market softening
• Chairman Powell stated he could "no longer say" the labor market is "very solid," marking shift in Fed assessment
• Goldman Sachs characterized U.S. economy as operating at "stall speed" with growth barely above zero
• Top 10% of earners drove nearly half of consumer spending while middle-income households reduced discretionary purchases

Market Performance

• S&P 500 and Nasdaq reached new record highs following Fed rate decision
• Alphabet became fourth U.S. company to reach $3 trillion market capitalization
• Robinhood completed 500% one-year rally and was added to S&P 500 index
• Gold prices on track for best month in four years with Goldman projecting potential $5,000 level

Notable Transactions