Weekly Market Recap – September 1, 2025

Consumers are often considered to be the engine driving the U.S. economy. However, that has not been the case in recent quarters. In fact, much like the U.S. equity market, technology and AI have lately been the key drivers. In 1H25, on average, consumption was responsible for 0.7% of total economic growth compared to an average of 1.7% from 2000-2024. At the same time, business investment in information processing equipment, software and R&D contributed 1.1% compared to an average of 0.4%.