Technology stocks were once more the driver that pushed stocks to new heights as our trading session ended August 28, 2025, in a shortened week ahead of the Labor Day holiday. Wall Street continued its climb.

The Commerce Department reported that the U.S. economy ‘s gross domestic product (GDP) bounced back in the second quarter to an annual gain of 3.3%. This compares to a first quarter GDP that slid 0.5%. Economists saw the increase as a recovery from the tariff-induced swoon in the first three months of 2025.

As an indication that the labor market is softening, the Labor Department reported that jobless claims for the latest reporting week fell 5,000, to 229,000. This gradual weakening is another factor weighed by the Federal Reserve in determining whether or not to change

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