Stocks Retreated, Fed will “Proceed Carefully” / Navigator September 2023

September 3, 2023

Summary: Stocks retreated in August, with the S&P 500 declining by 1.6%, while the Dow and the technology-heavy Nasdaq both lost more than 2%. Despite the generally positive economic data in the US, there have been challenges recently, partly due to the upswing in long-term yields. Also, corporates delivered soft Q2 earnings growth, reflecting a decrease in demand and softening pricing power with persistent margin pressure.