Source: Charles Schwab, data from 9/1 – 9/5

Weekly Market Minute

“Success is not final, failure is not fatal: it is the courage to continue that counts.”
— Winston Churchill

🧭 This Week In the Markets

Image Source: ABC7NY

August Inflation Data Shows Persistent Price Pressures

Consumer inflation remained elevated in August, keeping attention focused on the Federal Reserve ahead of its policy meeting next week. The Consumer Price Index (CPI) rose 0.4% during the month and 3.4% from a year earlier, both in line with expectations. Core CPI, which excludes volatile food and energy prices, increased 0.3% for the month, slightly above forecasts, while the annual core rate remained steady at 2.4%. The monthly increase was driven in part by higher energy costs, including a 3.9% rise in gasoline prices, alongside a 0.3% increase in shelter costs. The report showed that although underlying inflation has moderated from earlier highs, price pressures remain persistent across several areas of the economy.

Wholesale inflation also remained firm in August. The Producer Price Index (PPI), which measures prices received by producers and can provide insight into future consumer price pressures, rose 0.4% for the month, in line with expectations, and 5.4% from a year ago. Core PPI increased more moderately at 0.2%, slightly below estimates. Energy again played a major role, with final-demand energy prices rising 4.2%, while overall goods prices increased 1.1%. Taken together, the CPI and PPI reports suggest inflation pressures remain present, giving Federal Reserve policymakers additional data to consider as they determine the appropriate path for interest rates.

Apple Unveils First Foldable iPhone in Major Product Launch

Apple unveiled several new products at its annual September event this week, headlined by the company’s first foldable smartphone, the iPhone Duo. The new device features both an internal and external display and will start at $1,999 when it reaches stores in October. Apple also introduced the iPhone 18 Pro and Pro Max, both of which received price increases as the company navigates higher component costs, particularly for memory.

Artificial intelligence was another major focus of the event as new CEO John Ternus highlighted Apple’s efforts to integrate AI more deeply across its devices. The company debuted its AI-powered version of Siri and introduced the A20 Pro, Apple’s first 2-nanometer iPhone chip, designed in part to improve on-device AI performance. The launch represents an important step in Apple’s efforts to strengthen its position in artificial intelligence while introducing its biggest redesign of the iPhone in years.

Diesel Prices Hit Record High as Supply Disruptions Mount

U.S. diesel prices reached a record high on Friday, with the national average climbing to over $6 per gallon. Prices are now more than 60% higher than a year ago, while California diesel prices have approached $8 per gallon. The increase comes as escalating conflicts in the Middle East and Eastern Europe have disrupted global energy supplies, contributing to a roughly 20% increase in U.S. crude oil prices so far in September.

Higher diesel prices can have broad economic consequences as diesel fuels much of the transportation and agricultural infrastructure used to move and produce goods. Trucks, trains, ships and farm equipment all rely heavily on diesel, meaning higher fuel costs which can be passed along to consumers through higher prices for food and other goods. With global refining capacity already constrained, continued pressure on diesel prices could add another source of inflation at a time when investors and the Federal Reserve are closely watching the direction of consumer prices.

🏢 Corporate Earnings

• Adobe (ADBE) slightly beat expectations, reporting adjusted earnings per share of $6.13 on revenue of $6.76 billion compared with estimates of $6.09 per share and $6.70 billion. These results were supported by growing demand for Adobe’s AI-integrated products.
• Oracle (ORCL) surpassed quarterly earnings expectations, reporting adjusted earnings per share of $1.92 on revenue of $19.35 billion compared with estimates of $1.74 per share and $19.14 billion, respectively. The strong results were driven by AI-related data center expansion, helping cloud infrastructure revenue more than double from a year ago.

📊 Sector Performance

4-day closing price ($) and change (%)

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 9/11

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Source: Charles Schwab

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Sources: CNBC, CNBC, CNBC, CNBC
Corporate Earnings: Adobe, Oracle

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