InsightSeptember 7, 2026
Weekly market report: September 7, 2026
The data were contradictory and the price signals were not. Second-quarter GDP was confirmed at 1.5% annualised (from 2.1% in Q1), but the PCE price index was revised up to 5.3% and core PCE to 3.6%. The labour market opened weak — ADP added just 38,000 jobs in August, the softest since January, and July JOLTS showed openings little changed at 7.3 million with the quits rate stuck at 1.9% — before Friday’s Employment Situation reversed the narrative: payrolls rose 162,000 against consensus nearer 56,000, unemployment held at 4.1%, average hourly earnings rose 0.3% month on month and 3.1% year on year, and the prior two months were revised up by a combined 55,000, turning July from a 23,000 decline into a 21,000 gain.