The Corner September 2025

Market Commentary – September 17, 2025

Our work continues to support a secular bull market, driven by economic growth, consumer spending, and transformative technologies. Corporate earnings continue to rise, profit margins are still expanding, and the markets anticipate that the Federal Reserve (Fed) will cut short-term interest rates 25 basis points this month, which could buoy the equity market and boost economic activity. Our year-end target for the S&P 500 is 7000, and we expect it to reach 7200 next year. Our long-term target for this secular bull market has the S&P 500 reaching 12,000–13,000 for by 2029–2030.

In this month’s Corner, after a brief review of the markets, we will cover cryptocurrencies: their performance and importance, a short discussion of how they work, and the legislative framework that governs them.