U.S. stock markets meandered through the summer months, with the S&P 500 Index managing a small gain of 1.7% for the 3rd Quarter. In July though, stocks rose on expectations of a Federal Reserve rate cut, which was delivered on July 31. Volatility returned to the market in August as renewed tariff threats against China and concerns about a possible recession grew. Economic data released during the quarter indicated a possible slowdown, but the pace of GDP and job growth remained positive. By September, stocks closed the month on higher ground.
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