Source: Charles Schwab, data from 9/21 – 9/25

Weekly Market Minute

“Motivation is what gets you started. Habit is what keeps you going.”
— Jim Ryun

🧭 This Week In the Markets

Image Source: Minh Connors | Bloomberg | Getty Images

Markets Navigate Higher Yields and Oil Volatility

U.S. stocks have remained relatively resilient this week as investors balance continued strength in technology and artificial intelligence against rising Treasury yields and volatile oil prices. The 10-year Treasury yield reached its highest level since 2007 this week, as concerns around inflation, energy prices, and government debt continued to pressure the bond market. Higher yields have pressured equities as borrowing costs rise and bonds offer increasingly competitive returns.

Oil prices eased Friday as investors weighed the possibility of progress toward a U.S.-Iran truce against continued geopolitical tensions and risks to global energy supplies. Despite elevated rates and energy prices, equities have held up relatively well, supported in part by continued enthusiasm surrounding artificial intelligence and technology. Going forward, investors will continue watching Treasury yields and oil prices closely for signs of how inflation and Federal Reserve policy could influence markets.

Meta’s Muse Gains Momentum as AI Agents Move Into the Mainstream

Meta’s rollout of its Muse AI personal agent has generated strong early interest from both consumers and investors, helping Meta shares rise more than 20% in the two weeks since its launch. The app has climbed to the top of Apple’s App Store, surpassing ChatGPT, and CEO Mark Zuckerberg described Muse as the centerpiece of Meta’s effort to bring AI agents to a broader audience. Muse is designed to perform everyday tasks on a user’s behalf, including booking travel and appointments, completing forms, monitoring home security cameras, and shopping online.

The rapid adoption of Muse is also raising questions about how AI agents could disrupt existing industries and change the way consumers interact with businesses. Amazon has blocked Muse from accessing its shopping site, citing privacy and security concerns, while retailers including Walmart, Best Buy, Gap, Sephora, and Wayfair are partnering with Meta on new AI-powered shopping experiences. Despite the early enthusiasm, questions remain around privacy, security, and how Meta will ultimately monetize Muse, making its ability to sustain the initial momentum an important development to watch.

Q3 Earnings Season Approaches

Third-quarter earnings season is set to begin in mid-October, as investors continue to navigate geopolitical tensions, elevated borrowing costs, tariffs, and concerns surrounding AI valuations. Despite these headwinds, resilient U.S. consumer spending is expected to support corporate earnings.

S&P 500 earnings are estimated to have grown 28.9% year-over-year in the third quarter, which would mark the index’s third consecutive quarter of earnings growth above 25%.

🏢 Corporate Earnings

• Costco Wholesale (COST) surpassed its quarterly earnings expectations, reporting earnings per share of $6.75 on revenue of roughly $95.7 billion. These results were driven by tariff refunds and an increase in net sales of 11.2% over the quarter.

📊 Sector Performance

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

Source: Select Sector SPDRs, data based on the Sector SPDR ETFs as of 9/25

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Source: Charles Schwab

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Sources: CNBC, CNBC, CNBC, Interactive Investor
Corporate Earnings: Costco Wholesale

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