John Hancock: Weekly Market Recap Week Ended September 28th
Rate rise
As expected, the U.S. Federal Reserve raised its benchmark short-term interest rate to the 2.00%–2.25% range, outpacing inflation for the first time in a decade. This marks the third increase this year and the eighth since late 2015. It’s the first time since 2008 that the benchmark rate has been above 2.00%.
Solid September
With its 0.4% gain in September, the S&P 500 has now risen for six months in a row. The Dow added nearly 2% in September to record its fourth straight positive month, but the NASDAQ fell slightly, snapping a five-month string of gains.
Highs and lows in confidence
U.S. consumers shrugged off trade and tariff trepidations, as a monthly indicator of consumer confidence climbed to its highest level in 18 years. Across the Atlantic, Brexit concerns sent U.K. consumer confidence further into negative territory.
Health restoration
Healthcare was the top-performing equity sector of the third quarter, posting a 14.5% return, the sector’s biggest quarterly gain in more than five years. On a year-to-date basis, healthcare trailed only the information technology and consumer discretionary sectors.
Source: https://wmr.jhinvestments.com