The performance of initial public offerings (IPOs) this year had been lackluster before August, trailing US stocks overall, based on an ETF tracking these securities vs. the S&P 500 Index. The relatively weak results for IPO didn’t surprise analysts, who’ve been arguing that private equity has been stealing the thunder of public offerings and keeping the best new companies from going public. But in recent weeks, the performance of IPOs generally has turned up, and is now leading the equities market by a wide margin in 2025, based on a pair of ETFs.
Daily Archives: September 17, 2025
Macro Briefing: 17 September 2025
US retail sales beat expectations in August, rising for third straight month. “The American consumer appears to be in good spirits. That’s good news for the economy, but it may heighten debate over how aggressively the Fed needs to cut rates,” said Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management.
