September 19, 2025

WEEKLY TOUCHPOINT

Inflation is one of those quiet forces in the background—easy to overlook, but impossible to ignore. Over time, it steadily chips away at the value of every dollar we hold. For perspective: that $10 bill you had in 1983 would only buy about $3.09 worth of goods today.

This erosion of purchasing power is why investing isn’t just about chasing returns—it’s about protecting your future lifestyle. Strategic investing provides the best chance to outpace inflation, preserve wealth, and grow it over the long run.

 

• What To Expect After The Fed Cuts Rates

• Trump Says Wall Street Should Ditch Quarterly Earnings: What Would That Mean?

• Buffett’s Berkshire’s Short-Term Interest Rate Path Differs From Megarich Peers

What to Weigh Before Harvesting Capital Losses

Tax-loss harvesting can be a useful tool, but it isn’t automatically the right fit for every situation. The decision depends on the bigger picture of a client’s financial plan.

This checklist is designed to help you evaluate when harvesting capital losses may—or may not—make sense. Inside, you’ll find guidance on:

• How realizing losses could impact overall portfolio objectives.

• Key rules and potential missteps to watch out for when executing the strategy.

• The tax advantages (and possible drawbacks) that can result.

• Ways short-term tax moves may influence long-term financial goals.

DOWNLOAD our Guide: What-Issues-Should-I-Consider-When-Harvesting-Capital-Losses

Source: fp Pathfinder

Equities

• Stocks pushed to fresh highs as the Fed cut rates for the first time in nine months.

• Small-caps stole the spotlight, rallying hard on their rate sensitivity.

• Growth kept its year-to-date edge over value, while mid- and large-caps lagged.

• Tech and communication services powered gains, while only five of eleven S&P 500 sectors finished positive.

• Overseas, developed markets slipped a bit, while emerging markets managed to climb despite fading Chinese momentum.

Bonds

• The yield curve steepened: short rates eased, long rates rose.

• Two-year Treasuries held steady at 3.57%, but the ten-year climbed to 4.14%.

• Long-duration bonds struggled under higher yields, except in high yield where spreads tightened further.

• Investment-grade corporate yields edged up to 4.76%, while high yield eased to 6.98%.

Macroeconomic Data

• The Fed cut rates by 0.25%, with Powell highlighting labor market risks over inflation.

• Fed projections nudged GDP and inflation higher, unemployment lower—but outlook uncertainty remains clear on the dot plot.

• Retail sales beat expectations, up 0.6% in August and 4.8% year-over-year, underscoring resilient consumers.

• Housing showed strain: building permits fell 3.7% and housing starts dropped 8.5%.

(as of Monday’s Market Opening)

	Total Return (1D)	Total Return (1W)	Total Return (MTD)	Total Return (QTD)	Total Return (YTD)
S&P 500	0.07%	0.81%	3.23%	7.48%	13.39%
Dow Jones Industrial Average	-0.20%	0.74%	1.49%	4.82%	8.64%
NASDAQ	0.13%	1.39%	5.61%	11.24%	17.34%
NASDAQ 100	0.11%	1.48%	5.29%	8.71%	17.33%
Russell 1000	0.00%	1.20%	3.13%	7.73%	14.15%
Russell 2000	-0.27%	1.96%	3.34%	12.62%	10.54%
Russell 3000	0.03%	1.24%	3.21%	7.99%	13.99%
ACWI	0.02%	1.06%	3.26%	7.15%	18.17%

Scorecard #2: Business Readiness

When it comes to planning for the future of your business, being ready is just as important as being attractive to potential buyers or successors. That’s where the Business Readiness Scorecard comes in.

The Scorecard is designed to measure how prepared your business is to transition—whether that’s through a sale, succession, or simply ensuring the company can run smoothly without you. Unlike financial statements that capture past performance, the Readiness Scorecard highlights forward-looking elements such as:

• Management Depth – Does your team have the skills and leadership to operate without you?

• Systems & Processes – Are your operations standardized and documented, or do they live in your head?

• Financial Controls – Can your numbers stand up to due diligence scrutiny?

• Owner Dependence – Could the business thrive if you stepped back tomorrow?

• Preparedness for Transition – Do you have succession plans, contingency strategies, and a clear exit roadmap?

Research shows that most owners are not prepared: nearly 80% of businesses that go to market never sell, often because they fail the readiness test .

The good news? Readiness is not just about selling. Even if you don’t plan to transition for years, scoring well on the Business Readiness Scorecard strengthens your company today—making it more profitable, resilient, and valuable for the future.

Action Step: Consider taking a confidential Business Readiness Scorecard assessment. It’s a quick way to identify strengths, gaps, and next steps to protect, grow, and harvest the value you’ve built.

 

DOWNLOAD our Business Readiness Scorecard

 

SOURCE: The Exit Planning Institute

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Disclosures

1. Wealth Mechanics™ is a registered trademark of Cestia Wealth Management. Unauthorized use of the trademark, including but not limited to commercial use, reproduction, or imitation without explicit written permission from Cestia Wealth Management, is strictly prohibited.
2. Market commentary provided by NewEdge Advisors
3. Charts concerning market data are provided by Exhibit A.
4. Guides and other downloadable firm material respective to financial planning processes and data are provided and powered by fpPathfinder.
5. Advisory services offered through NewEdge Advisors, LLC, a registered investment adviser. Securities offered through NewEdge Securities, LLC. Member FINRA/SIPC. NewEdge Advisors, LLC and NewEdge Securities, LLC are wholly owned subsidiaries of NewEdge Capital Group, LLC.
6. Cestia Wealth Management is not a legal tax professional. We offer tax gap analysis for clients who desire to have a comprehensive financial plan, which requires in-depth tax strategy and planning as a distinct part of the overall customized solution. Please consult your tax professional on all matters addressed in this report.
7. Information about annuities are not to be considered a recommendation. The information provided should not considered a recommendation to purchase or sell any particular security.
8. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Past performance is no guarantee of future results. Please note that individual situations can vary. Therefore, the information presented here should only be relied upon when coordinated with individual professional advice.