Hi There! Growing up in Grenada, most of the adult talk happened in the kitchen while my mother was cooking or washing dishes. I was small, so I did not always understand the words, but I knew one thing. Money was not easy to come by.

My mother lived on her small housekeeping salary. I remember, months before Christmas she would put my one gift on layaway and pay little by little until it was mine. I can still hear her voice telling me to save my money. She meant it, too. When we went to a church harvest or a neighbourhood blocko, if I asked for my favourite food or drink she would buy one and split it in half with me. That was the money she had.

At home I heard the same phrases over and over. Save your money. Do not owe people. If you borrow, pay it back quickly. My mother put some of her money in the bank, but she also joined a sousou with her girlfriends. While others used their “hand” to buy a TV or clothes, she made sure her hand came close to school reopening so she could buy my school clothes and books. For her, it was priority.

Even with so little she tithed faithfully and made sure I had a few coins or sometimes a dollar to give at church too. Watching her taught me that money had to be handled with discipline, but it also had to be shared.

One money conversation that stuck with me was hearing her say I do not have money almost every time I asked for something. After a while I stopped asking and started planning. Any little change I got went into a piggy bank. Birthday or holiday cash I stashed away. In my mind I knew when she said no, I would have money tucked away to buy what I wanted myself. That habit made saving second nature to me.

I also saw how her sacrifices paid off. She saved until she could buy a piece of land, and later built a house by taking materials on credit from the hardware store and paying it off quickly. Still, what I learnt was limited. I grew up believing money was scarce, that you had to guard it carefully, that you could lose it if you were not vigilant. I learnt to save, to avoid debt, and to stretch every dollar. What I did not learn was how to make money work for me. Nobody around me was talking about investing or good debt vs bad debt. I knew owning property mattered, but not how to build wealth with it. The message was always work hard, earn more, and buy what you need.

Those conversations shaped me deeply. When I moved to the U.S. I carried them with me like extra baggage. Some of the lessons helped. They made me cautious and hardworking. However, some held me back. They kept me quiet when I should have asked questions. They made me fearful of investing because I thought it was something only rich people did.

Maybe you know that same feeling. Maybe the money talk in your house was full of fear. Maybe you were told never to speak about money because it was rude. Or maybe you were told to always play it safe and never take risks.

The point is the money conversations we grow up hearing do not disappear when we get older. They live inside us, shaping how we spend, save, and invest. They influence whether we feel confident opening a retirement statement or whether we push it aside unopened.

This week I want you to pause and think about your own money story, using the worksheet below (in the Special Tools and Strategies Section). The voices you grew up hearing. The messages that were planted in you. Some of those seeds may still be guiding you today without you realizing it.

Next week I will share what happened when I carried those old beliefs into my first years in America. You will see how quickly I realized that what I thought I knew about money was not enough to help me thrive here.

Until then, take a few quiet minutes to reflect. You may be surprised to see that your money story did not begin with you at all. 

Alright, let’s dig in!

U.S. equities started September on a mixed note, with the S&P 500 and Nasdaq notching slight gains while the Dow slipped lower. Markets had plenty to digest after the Labour Day holiday, including fresh jobs data, corporate earnings, and trade headlines. Overseas, political risks in Europe and fading momentum in China’s equity rally left international markets uneven.

Treasuries were quiet most of the week before rallying last Friday after the latest jobs report showed more cracks in the labour market. The weaker employment data also sent the U.S. dollar lower, while commodities climbed overall despite pressure on oil.

Last week closed with a sobering reminder that a slowing labour market may mean interest rate cuts are coming, but it also signals a loss of economic momentum. Meanwhile, Broadcom stole the spotlight, soaring on booming AI chip sales and a new $10 billion customer widely believed to be OpenAI.

U.S. Markets Recap (August 31 - September 6, 2025)

Equities:

The major indexes edged mostly higher in a shortened holiday week, supported mid-week by tech strength and relief over a court ruling that Alphabet ($GOOGL) will not be forced to sell its Chrome browser.

A softer JOLTS report last Wednesday raised expectations for Fed rate cuts, giving risk assets a lift. However, by Friday, weaker ADP and BLS payrolls reversed sentiment, sparking concerns that the slowdown in hiring is becoming too broad.

Trade news also drew attention. Washington and Tokyo finalized a new deal capping tariffs on Japanese goods at 15 percent.

Broadcom’s ($AVGO) blowout earnings underscored ongoing AI momentum, with strong chip sales and new customer wins driving its stock higher.

Fixed Income:

Core bonds moved higher last week, jumping Friday on weak employment data. The two-year Treasury yield dropped sharply as traders fully priced in a September rate cut. Despite debates over tariffs, deficits, and Fed independence, the U.S. bond market remained calmer than many of its peers.

Commodities:

The Bloomberg Commodities Index edged higher last week. Crude oil fell as OPEC+ signaled potential output increases to regain market share despite weak demand and oversupply from outside producers.

Gold shined, posting its best week in three months and nearing $3,600 an ounce. The yellow metal was buoyed by Fed rate cut expectations, worries about central bank independence, and ongoing global political risks. Silver also gained, while copper prices retreated.

Currencies:

The U.S. dollar weakened slightly as traders bet on rate cuts following the jobs report. The yen and euro gained ground, supported by the trade deal and weaker dollar backdrop.

• EURUSD +0.28%

• GBPUSD +0.04%

• USDJPY +0.02%

The dollar index finished the week flat overall.

U.S. Economic Recap (August 31 - September 6, 2025)

Jobs Market: Cooling Fast

August brought more signs of a labour market slowdown:

• Unemployment rose to 4.3% from 4.2% in July.

• Nonfarm payrolls grew by just 22,000, well below expectations, while prior months were revised down. June’s data even showed the first outright contraction since 2020.

• Without health care hiring, job growth has been negative in three of the past four months.

• Wage growth was steady at 3.7% year over year, still outpacing inflation.

JOLTS data showed job openings down to 7.18 million, the lowest in 10 months. The ratio of openings to unemployed workers is now 1:1, down from 2:1 in 2022. Layoffs have picked up, and fewer workers are quitting jobs, signaling weaker confidence.

ADP reported private payrolls of 54,000, also below forecasts, with hiring concentrated in leisure and hospitality.

The labour market has clearly lost momentum. While this strengthens the case for Fed rate cuts, the slowdown is not yet severe enough to justify a half-point move. A 25 basis point cut remains the base case.

Business Activity

• Services PMI came in at 54.5, slightly softer but still strong. Financial services and domestic demand led growth, though international orders fell for a fifth straight month. Inflation pressures from wages and tariffs pushed costs higher.

• Manufacturing PMI rose to 53.0, the best since 2022, as firms ramped up production and inventories ahead of expected tariff-related price increases. Input costs jumped, but optimism improved as demand and capacity investment plans strengthened.

Together, the data suggest GDP growth near 2.4% annualized in Q3, though hiring weakness casts a shadow.

Global Markets Recap (August 31 - September 6, 2025)

Europe:

European stocks drifted lower early in the week amid French political uncertainty, then rebounded as wholesale inflation eased and yields pulled back. The CAC 40 managed small gains as Macron worked to stabilize government support. Final Q2 GDP was unchanged, and inflation remained above target, suggesting the ECB may not rush further cuts.

Asia:

Asian equities ended mixed. Hong Kong and mainland China stocks rallied last Friday, offsetting earlier losses on concerns about stretched valuations. Japan advanced after strong government bond auctions eased fears of heavy issuance. South Korea, Taiwan, and India also posted gains.

Crypto Recap (August 31 - September 6, 2025)

Crypto markets consolidated after a rough August.

• Bitcoin rose 2.1%, supported by $123 million in inflows to spot ETFs. BlackRock and Fidelity funds led the rebound. BTC held above $109,670, with resistance around $112,000–113,450. Despite some bearish technical signals, hidden bullish divergence suggests steady demand.

• Ethereum slipped 1.2% as nearly $1 billion exited ETH products. Fidelity’s FETH alone saw $217 million in outflows. Yet whale accumulation hints at quiet confidence should ETH break above $4,500.

• Solana broke through $212 but showed signs of exhaustion. A pullback to $206 remains possible before any further rally.

Last week’s Top Gainers: MYX, M, WLD, PUMP, ZEC, ENA

Here are other key highlights from last week:

• Solana set for major overhaul after 98% votes to approve historic upgrade.

• Tokenizing car reservations will open a trillion-dollar market.

• NFTs ‘heating up’ as nightclubs, rappers jump back on bandwagon.

• MATIC to POL migration is 99% complete.

This first week of September will be busy!

Key U.S. Economic Releases this week (Sept 8-12):

• Monday: Consumer Credit

• Wednesday: PPI Inflation

• Thursday: CPI Inflation, Jobless Claims

• Friday: Consumer Sentiment, Inflation Expectations

Fed Watch

The Fed enters its blackout period ahead of the September 16–17 policy meeting. No speeches are scheduled this week.

Earnings: 

Key reports to watch: Oracle (ORCL), Kroger (KR), and Adobe (ADBE). Other earnings releases are shown in the chart below.

Medium-to-High Impact Global Economic Events This Week:

Keep an eye on the ECB Monetary Policy Statement.

Week 8/31/25 - 9/06/25 Recap

Special Tools & Strategies - Your Money Story

Disclaimer: This newsletter is strictly educational. The information this report provides does not constitute investment, financial, trading, or any other advice. You should not treat any of the report’s content as such. Please be careful and do your research.