EB Daily Market Report - Friday, August 29, 2025

Dear Members.

Another trading day and month about to come to an end with all of the major indexes lower just one day after the S&P achieved a record high.

The selling today comes as we get ready to head into the most challenging trading month of September. And it didn't help that today's economic reports put back into question; should the Federal Reserve reduce rates? Right now traders are optimistic that a rate cut is coming in September which might be the one thing that keeps stocks from falling significantly.

So far all of the major indexes remain above all key technical levels though the NASDAQ is sitting just above its 20 day, currently at 21,373. So we should keep a close eye on this one as a move below the 20 day could lead to additional selling.

Remember that the bulk of earnings reports are now out of the way with NVDA's numbers so far not inspiring traders.  Thus as we do move into the month of September it's almost certain that traders will be looking closely at fresh economic data, especially next Friday's jobs report, to help with trading decisions. 

Remember also that the market will be closed on Monday for the Labor day holiday. So a shortened market week as we enter a traditionally rough month which might lead to traders taking a more cautious stance into the weekend.

I want to wish everyone a relaxing holiday weekend and Tom will be back with his Weekly Market Report on Tuesday.

At your service,

John Hopkins