Economic data include the Federal Reserve reducing policy short-term interest rates by a quarter-percent, as expected.

At the September meeting, the U.S. Federal Reserve Open Market Committee voted to reduce the Fed funds rate by -0.25% to a range of 4.00-4.25%.

On a holiday-shortened week, economic data included stronger ISM services and manufacturing PMI surveys, while the August employment situation report came in again weaker than expected.

For decades, alternative asset strategies have been accessible to the ultra-wealthy and institutional investor class as a way to diversify portfolios.  Mainstream investing is typically limited to the stalwart asset classes of cash, bonds and stocks.

Economic data for the week included U.S. GDP growth for the 2nd quarter being upgraded a bit, and continued growth in personal income and spending. On the weaker side were durable goods orders, home prices, and consumer sentiment.

Economic data included gains in existing home sales and housing starts, while the index of leading economic indicators continued to move in a negative direction. Fed Chair Powell’s comments at their Jackson Hole symposium pointed to higher chances of a September interest rate cut.