Here’s your weekly U.S. market wrap for the week ended Fri, Aug 29, 2025—in your three-section template, plus my 30‑day outlook.

1) Last Friday vs. This Friday (Closes)

• SPY: 645.31 → 645.05 (−0.26, −0.04%).  
• QQQ: 571.97 → 570.40 (−1.57, −0.27%).  
• IWM: 234.83 → 235.17 (+0.34, +0.15%).  

2) Key U.S. Macro Next Week (ET)

• Mon Sep 1: Labor Day (U.S. markets closed).  
• Tue Sep 2:
• • S&P Global Manufacturing PMI (final, Aug) — 9:45.  
• • ISM Manufacturing PMI (Aug) — 10:00.  
• • Construction Spending (Jul) — 10:00.  
• Wed Sep 3:
• • JOLTS Job Openings (Jul) — 10:00.  
• • Factory Orders (Jul) — 10:00.  
• • Fed Beige Book — 2:00 pm.  
• Thu Sep 4:
• • Initial Jobless Claims (weekly) — 8:30.  
• • Productivity & Costs (Q2, revised) — 8:30.  
• • S&P Global Services PMI (final, Aug) — 9:45.  
• • ISM Services PMI (Aug) — 10:00.  
• Fri Sep 5:
• • Employment Situation (Aug Nonfarm Payrolls, U/R, AHE) — 8:30.  

3) Major U.S. Earnings Next Week (Premarket/After‑Close)

• Tue Sep 2 (AMC): Zscaler (ZS).  
• Wed Sep 3 (AMC): C3.ai (AI).  
• Thu Sep 4 (AMC): Broadcom (AVGO); DocuSign (DOCU); UiPath (PATH); lululemon (LULU).  

Notes & context: August ended with the S&P 500 slightly off record highs; headline PCE ~2.6% YoY and core ~2.9%kept rate‑cut hopes alive into September. Markets closed Monday for Labor Day.  

30‑Day Outlook:

NEUTRAL

Why: Price action shows large‑cap consolidation (SPY flat, QQQ softer, small caps firmer) into a dense macro week (ISM, JOLTS, NFP). With policy hopes buoyant but data‑dependent, risk feels two‑sided.

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