Weekly headings snapshot

Week Ending September 18, 2026

• This week, we explore how the Fed’s rate hike could shape the economy and financial markets. • Control Group Retail Sales—an input into GDP calculations—surged at the fastest monthly pace since Sep. 2024. • Equity markets came under pressure this week driven by higher oil prices and a rising 10-year Treasury yield. • The Fed unanimously raised its policy rate by 25bps to 3.75%-4.00% and struck a hawkish tone. • WTI crude briefly peaked at $106/barrel this week, driven by another disruption in oil supply from the Middle East.

Manufacturing & Services PMIs Retailer Earnings Michigan Sentiment

Global S&P PMIs for both manuf. and Markets will shift attention back to Friday’s final September University of services will provide a timely snapshot of consumer spending patterns via Michigan Consumer Sentiment release will business conditions, with added focus on earnings results from Darden be in focus, with added attention on any the employment and price subindices. Restaurants and Costco on Thursday. revisions to inflation expectations.

Return Statistics Key Market Levels Economic Calendar Region Weekly YTD Index Level Date Event

S&P 500 0.6% 12.5% S&P 500 7,638 MON 9/21 Russell MidCap 0.1% 13.9% DJIA 51,778 TUE 9/22 Russell 2000 -0.5% 16.8% 2-Yr Treasury Yield 4.67%

AC World -0.1% 13.5% 10-Yr Treasury Yield 4.93% WED 9/23 S&P Global PMIs

Emerging Markets -3.2% 22.3% 30-Yr Treasury Yield 5.28% Jobless Claims THU 9/24 US Aggregate Bond 0.2% -1.1% EUR/USD 1.15 New Home Sales

BG Commodity -0.8% 33.1% WTI Crude Oil ($/bbl) 102 Durable Orders FRI 9/25 Michigan Sentiment (Final) US Dollar 1.2% 2.0% Gold ($/ozt) 4,400

Weekly performance calculated from Thursday close to Thursday close. FactSet as of: 9/17/2026

Disclosures The DJIA is an unmanaged index of 30 widely held stocks. The S&P 500 is an unmanaged index of 500 widely held stocks. Investing in small cap stocks generally involves greater risks, and therefore, may not be appropriate for every investor. The prices of small company stocks may be subject to more volatility than those of large company stocks. The S&P Equal Weight Index is the equal-weight version of the widely-used S&P 500. The index includes the same constituents as the capitalization weighted S&P 500, but each company in the S&P 500 EWI is allocated a fixed weight - or 0.2% of the index total at each quarterly rebalance. The Russell 2000 and Russell Midcap indices are unmanaged indexes of small cap and midcap securities, respectively, which generally involve greater risks. US government bonds and Treasurys are guaranteed by the US government and, if held to maturity, generally offer a fixed rate of return and guaranteed principal value. U.S. government bonds are issued and guaranteed as to the timely payment of principal and interest by the federal government. AC World (or MSCI All Country World Index) is a stock index designed to track broad global equity-market performance. The EM (“Emerging Markets”) is a selection of stocks that is designed to track the financial performance of key companies in fast-growing nations. The Bloomberg US Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar- denominated, fixed-rate taxable bond market. The Bloomberg Commodity Index is a broadly diversified commodity price index distributed by Bloomberg Index Services Limited. The US Dollar Index is a measure of the value of the U.S. dollar against six other foreign currencies. The currency pair EUR/USD indicates how many U.S. dollars (the quote currency) are needed to purchase one euro (the base currency). Municipal securities typically provide a lower yield than comparably rated taxable investments in consideration of their tax-advantaged status. Investments in municipal securities may not be appropriate for all investors, particularly those who do not stand to benefit from the tax status of the investment. Please consult an income tax professional to assess the impact of holding such securities on your tax liability. The Personal Consumption Expenditures (PCE) Price Index is a measure of the prices that people living in the United States, or those buying on their…