Market Wrap | Goldman Sachs CEO Predicts September Rate Cut Amid Market Volatility

On September 10, 2025, the S&P 500 index rose by 0.30%, while the Dow Jones Industrial Average fell by 0.48%, and the Nasdaq Composite index increased by 0.03%. Goldman Sachs CEO David Solomon anticipates a 25 basis point rate cut by the Federal Reserve in September, potentially followed by additional cuts. This expectation comes as the U.S. Labor Department reported a significant downward revision of over 900,000 in non-farm employment data, adding pressure on the Fed to lower interest rates.

Based on the day's market performance, several sectors outperformed the S&P 500, with the Utilities, Technology, Energy, and Industrials sectors leading the way. Notably, the Utilities, Technology, and Energy sectors demonstrated exceptional performance. Conversely, the Healthcare, Communication Services, Real Estate, Financials, and Consumer Staples sectors moved in the opposite direction of the S&P 500.

Goldman Sachs CEO predicts a 25 basis point interest rate cut by the Federal Reserve in September, with potential further cuts. Boeing Defense reaches a preliminary agreement with unions to end a strike in St. Louis, with a vote on a five-year contract proposal expected soon. Traders have increased bets on a Federal Reserve rate cut, as U.S. August PPI data shows a decline to 2.6%, lower than market expectations. The U.S. Labor Department's preliminary adjustments indicate that nonfarm payroll growth was overestimated by more than 900,000 jobs, intensifying pressure on the Federal Reserve to consider rate cuts.