Driven by rising Treasury yields and the Federal Reserve’s recent interest rate hike, the stock market capped a highly volatile week with a mixed performance on Friday.
Techstocks rebounded to carry the S&P 500 and Nasdaq into positive territory. S&P 500 went up 0.2% to 7,651, while Nasdaq increased 0.4% to 26,523.
Chart of the Day
Here is the one-year chart of S&P Global (SPGI) as of September 1, 2026, when the stock was at $440.
Last quarter, S&P Global divested its Mobility segment. On July 1, 2026, the company finalized the spin of its former Mobility division into an independent publicly traded company, Mobility Global. This has left SPGI with four core divisions, namely: Market Intelligence, Ratings, Global Energy and Indices.
Without Mobility’s profits, S&P Global’s profit picture has been reduced, even though business is fine. For example, David Sharek, Founder of School of Hard Stocks, has profits up 9% last quarter but on a pro forma basis, S&P Global says profits grew 23% year-over-year.
Looking ahead, analysts expect -6% and -5% profit growth in the next two quarters, but if we compare these figures to year-ago periods without accounting for Mobility, the figures would be much higher. In simple terms, the profit picture looks a little light but this does not mean business is bad, it is because the company has one less operating segment.
SPGI is part of the Conservative Growth Portfolio.
