September 12th 2023 Weekly Economic Update

The Week On Wall Street U.S. equities continued to retrace for a negative week as investors continue to mull the Federal Reserve’s (Fed) next moves amid a resilient economic landscape and higher energy prices. Markets finished mostly lower on Thursday, with the S&P 500 Index down for a third straight session while the Nasdaq Composite suffered its fourth consecutive decline. Utilities, this year’s worst-performing sector, led Thursday’s market action, followed by real estate. The information technology sector was this week’s major detractor. Last week did have big news out of China as their government officials have been banned from using Apple’s (AAPL) iPhones.