Last Week on Wall Street
Stocks fell last week amid concerns about trade with China, following an unsteady rally to record highs over the first half of the week.
The Standard & Poor’s 500 Index fell 2.41%, while the Nasdaq Composite Index declined 2.53%. The Dow Jones Industrial Average slid 2.70%. The MSCI EAFE Index, which tracks developed overseas stock markets, slipped 1.85%.1,2
Stocks Set Highs Before Friday’s Drop
Stocks began the week mostly positive. However, Monday marked Day 6 of the government shutdown, and two of the three major averages powered through any bearish sentiment. The S&P 500 and the Nasdaq each advanced to record closes on fresh enthusiasm for mergers & acquisitions activity after the announcement of two deals. By contrast, the Dow fell slightly.3,4
Stocks pushed higher midweek as investors looked past the Fed meeting minutes from September, which revealed somewhat divided opinions on interest rates. The S&P and Nasdaq both closed at record highs.4
On Friday, sentiment turned negative a little over an hour into the trading session after the White House announced a tariff increase on imported goods from China. The decline, led by chip manufacturers, erased the week’s gains. It was the largest single-day decline for stocks since April.5,6,7
China In Focus
Meanwhile, focus turned to new export controls that China imposed on so-called rare earth metals—key ingredients for AI-powered microchips and vital resources for the defense industry. Investor concern centered mostly around AI chip companies, which have exposure to China both as customers and in terms of manufacturing.8
The White House threatened to cancel its upcoming meeting with the Chinese president over the dispute. China controls approximately 70% of the global supply of rare earth metals, meaning a policy change can impact markets.8
Separately, the government shutdown entered its second week. Shutdowns typically don’t heavily impact markets, but the uncertainty continues to hang over trading.9
This Week: Key Economic Data
Monday: Philadelphia Fed President Anna Paulson speaks.
Tuesday: Small Business (NFIB) Optimism Index. Fed governors Michelle Bowman and Christopher Waller, and Boston Fed President Susan Collins speak.
Wednesday: Atlanta Fed President Raphael Bostic, and Fed governors Stephen Miran and Christopher Waller speak. Fed Beige Book.
Thursday: Retail Sales. Producer Price Index (PPI). Weekly Jobless Claims. Business Inventories. Home Builder Confidence Index. Richmond Fed President Tom Barkin, and Fed governors Michelle Bowman, Stephen Miran, and Christopher Waller speak.
Friday: Housing Starts. Building Permits. Import Prices. Industrial Production. Capacity Utilization.
Source: Investors Business Daily – Econoday economic calendar; October 10, 2025 – The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
This Week: Companies Reporting Earnings
Tuesday: JPMorgan Chase & Co. (JPM), Johnson & Johnson (JNJ), Wells Fargo & Company (WFC), The Goldman Sachs Group, Inc. (GS), BlackRock (BLK), Citigroup Inc. (C)
Wednesday: Bank of America Corporation (BAC), Morgan Stanley (MS), Abbott Laboratories (ABT), The Progressive Corporation (PGR), Prologis, Inc. (PLD), The PNC Financial Services Group, Inc. (PNC)
Thursday: The Charles Schwab Corporation (SCHW), Intuitive Surgical, Inc. (ISRG), Interactive Brokers Group, Inc. (IBKR), Marsh & McLennan Companies, Inc. (MMC)
Friday: American Express Company (AXP)
Source: Zacks, October 10, 2025 – Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
Concerns or questions about how your investment portfolio will hold up in the current market environment? Contact Financial Synergies today.
We are a boutique, financial advisory and total wealth management firm with over 35 years helping clients navigate turbulent markets. To learn more about our approach to investment management please reach out to us. One of our seasoned advisors would be happy to help you build a custom financial plan to help ensure you accomplish your financial goals and objectives. Schedule a conversation with us today.
More relevant articles by Financial Synergies:
Blog Disclosures
This content, which may contain security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own financial advisors as to legal, business, tax, and other related matters concerning any investment.
The commentary in this “post” (including any related blogs, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Financial Synergies Wealth Advisors, Inc. employees providing such comments, and should not be regarded as the views of Financial Synergies Wealth Advisors, Inc. or its respective affiliates or as a description of advisory services provided by Financial Synergies Wealth Advisors, Inc. or performance returns of any Financial Synergies Wealth Advisors, Inc. client.
Any opinions expressed herein do not constitute or imply endorsement, sponsorship, or recommendation by Financial Synergies Wealth Advisors, Inc. or its employees. The views reflected in the commentary are subject to change at any time without notice.
Nothing on this website or Blog constitutes investment or financial planning advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. It also should not be construed as an offer soliciting the purchase or sale of any security mentioned. Nor should it be construed as an offer to provide investment advisory services by Financial Synergies Wealth Advisors, Inc.
Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Financial Synergies Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
Any charts provided here or on any related Financial Synergies Wealth Advisors, Inc. personnel content outlets are for informational purposes only, and should also not be relied upon when making any investment decision. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Information in charts have been obtained from third-party sources and data, and may include those from portfolio securities of funds managed by Financial Synergies Wealth Advisors, Inc. While taken from sources believed to be reliable, Financial Synergies Wealth Advisors, Inc. has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. All content speaks only as of the date indicated.
Financial Synergies Wealth Advisors, Inc. is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Financial Synergies Wealth Advisors, Inc. and its representatives are properly licensed or exempt from licensure. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
See Full Disclosures Page Here
Last Week on Wall Street: Trade Concerns Hit Stocks [Oct. 13-2025]
Last Week on Wall Street
Stocks fell last week amid concerns about trade with China, following an unsteady rally to record highs over the first half of the week.
The Standard & Poor’s 500 Index fell 2.41%, while the Nasdaq Composite Index declined 2.53%. The Dow Jones Industrial Average slid 2.70%. The MSCI EAFE Index, which tracks developed overseas stock markets, slipped 1.85%.1,2
Stocks Set Highs Before Friday’s Drop
Stocks began the week mostly positive. However, Monday marked Day 6 of the government shutdown, and two of the three major averages powered through any bearish sentiment. The S&P 500 and the Nasdaq each advanced to record closes on fresh enthusiasm for mergers & acquisitions activity after the announcement of two deals. By contrast, the Dow fell slightly.3,4
Stocks pushed higher midweek as investors looked past the Fed meeting minutes from September, which revealed somewhat divided opinions on interest rates. The S&P and Nasdaq both closed at record highs.4
On Friday, sentiment turned negative a little over an hour into the trading session after the White House announced a tariff increase on imported goods from China. The decline, led by chip manufacturers, erased the week’s gains. It was the largest single-day decline for stocks since April.5,6,7
China In Focus
Meanwhile, focus turned to new export controls that China imposed on so-called rare earth metals—key ingredients for AI-powered microchips and vital resources for the defense industry. Investor concern centered mostly around AI chip companies, which have exposure to China both as customers and in terms of manufacturing.8
The White House threatened to cancel its upcoming meeting with the Chinese president over the dispute. China controls approximately 70% of the global supply of rare earth metals, meaning a policy change can impact markets.8
Separately, the government shutdown entered its second week. Shutdowns typically don’t heavily impact markets, but the uncertainty continues to hang over trading.9
This Week: Key Economic Data
Monday: Philadelphia Fed President Anna Paulson speaks.
Tuesday: Small Business (NFIB) Optimism Index. Fed governors Michelle Bowman and Christopher Waller, and Boston Fed President Susan Collins speak.
Wednesday: Atlanta Fed President Raphael Bostic, and Fed governors Stephen Miran and Christopher Waller speak. Fed Beige Book.
Thursday: Retail Sales. Producer Price Index (PPI). Weekly Jobless Claims. Business Inventories. Home Builder Confidence Index. Richmond Fed President Tom Barkin, and Fed governors Michelle Bowman, Stephen Miran, and Christopher Waller speak.
Friday: Housing Starts. Building Permits. Import Prices. Industrial Production. Capacity Utilization.
Source: Investors Business Daily – Econoday economic calendar; October 10, 2025 – The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
This Week: Companies Reporting Earnings
Tuesday: JPMorgan Chase & Co. (JPM), Johnson & Johnson (JNJ), Wells Fargo & Company (WFC), The Goldman Sachs Group, Inc. (GS), BlackRock (BLK), Citigroup Inc. (C)
Wednesday: Bank of America Corporation (BAC), Morgan Stanley (MS), Abbott Laboratories (ABT), The Progressive Corporation (PGR), Prologis, Inc. (PLD), The PNC Financial Services Group, Inc. (PNC)
Thursday: The Charles Schwab Corporation (SCHW), Intuitive Surgical, Inc. (ISRG), Interactive Brokers Group, Inc. (IBKR), Marsh & McLennan Companies, Inc. (MMC)
Friday: American Express Company (AXP)
Source: Zacks, October 10, 2025 – Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
Concerns or questions about how your investment portfolio will hold up in the current market environment? Contact Financial Synergies today.
We are a boutique, financial advisory and total wealth management firm with over 35 years helping clients navigate turbulent markets. To learn more about our approach to investment management please reach out to us. One of our seasoned advisors would be happy to help you build a custom financial plan to help ensure you accomplish your financial goals and objectives. Schedule a conversation with us today.
More relevant articles by Financial Synergies:
Blog Disclosures
This content, which may contain security-related opinions and/or information, is provided for informational purposes only and should not be relied upon in any manner as professional advice, or an endorsement of any practices, products or services. There can be no guarantees or assurances that the views expressed here will be applicable for any particular facts or circumstances, and should not be relied upon in any manner. You should consult your own financial advisors as to legal, business, tax, and other related matters concerning any investment.
The commentary in this “post” (including any related blogs, videos, and social media) reflects the personal opinions, viewpoints, and analyses of the Financial Synergies Wealth Advisors, Inc. employees providing such comments, and should not be regarded as the views of Financial Synergies Wealth Advisors, Inc. or its respective affiliates or as a description of advisory services provided by Financial Synergies Wealth Advisors, Inc. or performance returns of any Financial Synergies Wealth Advisors, Inc. client.
Any opinions expressed herein do not constitute or imply endorsement, sponsorship, or recommendation by Financial Synergies Wealth Advisors, Inc. or its employees. The views reflected in the commentary are subject to change at any time without notice.
Nothing on this website or Blog constitutes investment or financial planning advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. It also should not be construed as an offer soliciting the purchase or sale of any security mentioned. Nor should it be construed as an offer to provide investment advisory services by Financial Synergies Wealth Advisors, Inc.
Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Financial Synergies Wealth Advisors, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
Any charts provided here or on any related Financial Synergies Wealth Advisors, Inc. personnel content outlets are for informational purposes only, and should also not be relied upon when making any investment decision. Any indices referenced for comparison are unmanaged and cannot be invested into directly. As always please remember investing involves risk and possible loss of principal capital; please seek advice from a licensed professional. Any projections, estimates, forecasts, targets, prospects and/or opinions expressed in these materials are subject to change without notice and may differ or be contrary to opinions expressed by others. Information in charts have been obtained from third-party sources and data, and may include those from portfolio securities of funds managed by Financial Synergies Wealth Advisors, Inc. While taken from sources believed to be reliable, Financial Synergies Wealth Advisors, Inc. has not independently verified such information and makes no representations about the enduring accuracy of the information or its appropriateness for a given situation. All content speaks only as of the date indicated.
Financial Synergies Wealth Advisors, Inc. is a registered investment adviser. Advisory services are only offered to clients or prospective clients where Financial Synergies Wealth Advisors, Inc. and its representatives are properly licensed or exempt from licensure. Investments in securities involve the risk of loss. Past performance is no guarantee of future results.
See Full Disclosures Page Here
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