New Photo - Puerto Rico Lottery results: See winning numbers for Pega 2, Pega 3 on Sept. 2, 2025

Puerto Rico Lottery results: See winning numbers for Pega 2, Pega 3 on Sept. 2, 2025 Jay Cannon, USA TODAYSeptember 3, 2025 at 3:30 AM The Puerto Rico Lottery offers several draw games for those aiming to win big.

- - Puerto Rico Lottery results: See winning numbers for Pega 2, Pega 3 on Sept. 2, 2025

Jay Cannon, USA TODAYSeptember 3, 2025 at 3:30 AM

The Puerto Rico Lottery offers several draw games for those aiming to win big.

Lottery players in Puerto Rico can choose from popular national games like the Powerball, which is available in the vast majority of states around the U.S. Other games include the Pega 2, Pega 3, Pega 4 and more.

Big lottery wins around the U.S. include a lucky lottery ticketholder in California who won a $1.27 billion Mega Millions jackpot in December 2024. See more big winners here. And if you do end up cashing a jackpot, here's what experts say to do first.

Here's a look at Tuesday, Sept. 2, 2025 results for each game:

Winning Pega 2 numbers from Sept. 2 drawing

Day: 9-9, Wild: 9

Noche: 6-0, Wild: 4

Check Pega 2 payouts and previous drawings here.

Winning Pega 3 numbers from Sept. 2 drawing

Day: 9-9-0, Wild: 9

Noche: 8-2-6, Wild: 4

Check Pega 3 payouts and previous drawings here.

Winning Pega 4 numbers from Sept. 2 drawing

Day: 6-3-9-0, Wild: 9

Noche: 7-3-2-1, Wild: 4

Check Pega 4 payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

When are the Puerto Rico Lottery drawings held? -

Powerball: 11:59 p.m. Monday, Wednesday and Saturday.

Pega 2, 3, 4: 2 p.m. (Day) and 9 p.m. (Night) daily.

Revancha X2: 9 p.m. Monday, Wednesday and Friday.

Loto Cash: 9 p.m. Monday, Wednesday and Friday.

Winning lottery numbers are sponsored by Jackpocket, the official digital lottery courier of the USA TODAY Network.

Where can you buy lottery tickets?

Tickets can be purchased in person at gas stations, convenience stores and grocery stores. Some airport terminals may also sell lottery tickets.

You can also order tickets online through Jackpocket, the official digital lottery courier of the USA TODAY Network, in these U.S. states and territories: Arizona, Arkansas, Colorado, Idaho, Maine, Massachusetts, Minnesota, Montana, Nebraska, New Hampshire, New Jersey, New York, Ohio, Oregon, Puerto Rico, Washington D.C., and West Virginia. The Jackpocket app allows you to pick your lottery game and numbers, place your order, see your ticket and collect your winnings all using your phone or home computer.

Jackpocket is the official digital lottery courier of the USA TODAY Network. Gannett may earn revenue for audience referrals to Jackpocket services. GAMBLING PROBLEM? CALL 1-800-GAMBLER, Call 877-8-HOPENY/text HOPENY (467369) (NY). 18+ (19+ in NE, 21+ in AZ). Physically present where Jackpocket operates. Jackpocket is not affiliated with any State Lottery. Eligibility Restrictions apply. Void where prohibited. Terms: jackpocket.com/tos.

This results page was generated automatically using information from TinBu and a template written and reviewed by a USA Today editor. You can send feedback using this form.

This article originally appeared on USA TODAY: Puerto Rico Lottery results, winning numbers: Pega 2, Pega 3, more

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Puerto Rico Lottery results: See winning numbers for Pega 2, Pega 3 on Sept. 2, 2025

Puerto Rico Lottery results: See winning numbers for Pega 2, Pega 3 on Sept. 2, 2025 Jay Cannon, USA TODAYSeptembe...
New Photo - Costco Officially Changed Its Hours — Here's Who Benefits

Costco Officially Changed Its Hours — Here's Who Benefits Alex AndonovskaSeptember 2, 2025 at 7:00 PM Justin Sullivan/Getty ImagesEarlyBird Gets The Cart The early bird may get the worm, but the Executive Member gets to Costco first. Beginning Sept. 1, warehouses open at 9 a.m.

- - Costco Officially Changed Its Hours — Here's Who Benefits

Alex AndonovskaSeptember 2, 2025 at 7:00 PM

Justin Sullivan/Getty ImagesEarly-Bird Gets The Cart

The early bird may get the worm, but the Executive Member gets to Costco first. Beginning Sept. 1, warehouses open at 9 a.m. on weekdays and Sundays, and 9 to 9:30 a.m. on Saturdays.

Here is the scoop.

What Exactly Is Changing at Costco?

Blakelee Bartik / Cheapism

The policy was first announced in a June Instagram post where Costco laid out the new opening and closing times. Starting after Labor Day weekend, all warehouses will open at 9 a.m. for executive members only. Regular members can still come in starting at 10 a.m. According to reporting from TheStreet, warehouses were given a grace period to adjust through Aug. 31.

Who Qualifies for 9 a.m. Entry?

Cheapism

This perk is exclusive to Executive Members, Costco's higher-tier loyalty plan, which costs $130 per year compared to $65 for a standard Gold Star card. It already comes with an annual 2% reward on qualified purchases, discounts on services, and a free household card.

In addition to the extended hours, Executive Members will now get a monthly $10 credit for same-day delivery as an additional perk.

Why Did Costco Add This Perk?

Bruce Bennett/Getty Images

Costco has long noted that Executive Members make up a minority of cardholders but account for the majority of its sales, so giving them first dibs on shopping time is both a reward and a business strategy.

What About Weekend Hours for Everyone Else?

Iryna Tolmachova/istockphoto

Costco didn't leave its other members completely in the dust. As of the beginning of July, all warehouses began closing at 7 p.m. on Saturdays, instead of 6 p.m., according to USA Today, giving everyone a little more shopping time. Sundays remain the same.

More Costco Tips From Cheapism

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Costco's Kirkland Products Are Actually Made By These Famous Companies — Discover the big names behind many of the most popular products sold at Costco.

15 Costco Products To Buy If You Live Alone — Buying in bulk can seem overwhelming if you're shopping solo. These Costco products offer great deals, especially if you live alone, without making you feel like you've bought too much.

10 'Unwritten Rules' of Shopping at Costco — From understanding the secrets of Costco's price codes to knowing the best times to shop, learn to shop Costco like a pro.

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Costco Officially Changed Its Hours — Here’s Who Benefits

Costco Officially Changed Its Hours — Here's Who Benefits Alex AndonovskaSeptember 2, 2025 at 7:00 PM Justin S...
New Photo - Stocks fall as economic worries grip the market and Trump looks to counter tariffs ruling

Stocks fall as economic worries grip the market and Trump looks to counter tariffs ruling Steve Kopack September 2, 2025 at 6:44 PM Traders work on the floor at the New York Stock Exchange on Aug. 26. (Brendan McDermid / Reuters file) U.S.

- - Stocks fall as economic worries grip the market and Trump looks to counter tariffs ruling

Steve Kopack September 2, 2025 at 6:44 PM

Traders work on the floor at the New York Stock Exchange on Aug. 26. (Brendan McDermid / Reuters file)

U.S. stocks tumbled Tuesday as investors digested new economic data as well as Friday's ruling that most of President Donald Trump's sweeping country-specific tariffs are illegal.

The Nasdaq composite closed 0.8% lower, and the S&P 500 dropped 0.7%. The Dow Jones Industrial Average also fell 249 points.

Several Wall Street analysts raised concerns Tuesday morning about the potential that more than $120 billion in tariff revenue received so far this year might need to be paid back. Trump's tariffs will remain in effect for now as the legal process plays out and a lower court reconsiders the case.

U.S. Treasury yields, already elevated by broader investor worries about debt levels and economies elsewhere, especially Europe, spiked to as high as 4.97% for a 30-year U.S. government bond and 4.30% for the 10-year Treasury.

The higher that Treasury yields move, the more it costs the government to borrow money. Under a scenario where tariff revenue needs to be refunded to consumers and companies, the U.S. may need to issue more Treasuries at those higher yields to pay for the refunds.

Treasury Secretary Scott Bessent said Monday that the administration expected the Supreme Court to uphold Trump's tariffs but was also preparing other ways to deploy country-specific rates.

On Tuesday, Trump said he would be holding an "emergency meeting" Wednesday at the White House to discuss appealing the ruling.

"We are so strong now and we are so respected and ... the stock market is down today because of the possibility" that tariffs could be permanently blocked, Trump told Salem Radio.

"If we win this, the stock market is going to go right through the roof," the president added.

That scenario could also further stress the country's financial situation and $37 trillion in debt.

September is already typically the worst month for stocks, which have recently hit record highs. The renewed tariff uncertainty also comes alongside fresh data showing that the U.S. manufacturing sector contracted for a sixth straight month.

In its survey, the Institute for Supply Management noted comments from a trucking industry respondent that said the industry "continues to contract" and is "much worse than the Great Recession of 2008-2009."

A food and beverage industry company told ISM that "everything ... is about to get significantly more expensive" due to high tariffs such as the 50% applied to Brazilian goods.

"Tariffs continue to wreak havoc on planning/scheduling activities," a computer industry company said.

Major companies are also sounding the alarm about consumers.

Speaking on CNBC, McDonald's CEO Chris Kempczinski said Tuesday that the fast-food giant has observed "a two-tier economy" recently with lower- and middle-income consumers "feeling under a lot of pressure right now."

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Stocks fall as economic worries grip the market and Trump looks to counter tariffs ruling

Stocks fall as economic worries grip the market and Trump looks to counter tariffs ruling Steve Kopack September ...
New Photo - US manufacturing activity contracts for sixth straight month in August: 'It's survival'

US manufacturing activity contracts for sixth straight month in August: 'It's survival' Jake ConleySeptember 2, 2025 at 5:19 PM The US manufacturing sector continued its sluggish year in August.

- - US manufacturing activity contracts for sixth straight month in August: 'It's survival'

Jake ConleySeptember 2, 2025 at 5:19 PM

The US manufacturing sector continued its sluggish year in August.

Data out Tuesday from the Institute for Supply Management showed the ISM's manufacturing PMI came in at 48.7 last month, an increase from the reading of 48 seen in July but below estimates for a reading of 48.9, according to Bloomberg data. Readings of less than 50 on the index indicate a contraction in activity in the sector.

This marked the sixth straight month of contraction in the US manufacturing sector, according to the ISM's reading.

The new orders index within the ISM's report, however, rose to 51.4, indicating expansion, and marked a strong uptick from the 47.1 seen in July. The production index fell to 47.8 in August from 51.4 in July.

"In August, U.S. manufacturing activity contracted at a slightly slower rate, with new orders growth the biggest factor in the 0.7-percentage point gain of the Manufacturing PMI," said Susan Spence, chair of the ISM's survey committee. "However, since production contracted at a rate nearly equal to the expansion in new orders, the Manufacturing PMI increase was nominal."

Respondents to the ISM's survey widely cited tariffs as putting pressure on their planning, sales, and costs.

Read more: 5 ways to tariff-proof your finances

One contact in the electrical equipment industry told the ISM they've raised prices by 24% so far, but these increases will only offset tariffs, meaning their margins won't actually improve as a result.

"In two rounds of layoffs, we have let go of about 15 percent of our U.S. workforce," this contact said. "These are high-paying and high-skilled roles: engineers, marketing, design teams, finance, IT and operations. The administration wants manufacturing jobs in the U.S., but we are losing higher-skilled and higher-paying roles. With no stability in trade and economics, capital expenditures spending and hiring are frozen. It's survival."

Read more: The latest news and updates on Trump's tariffs

Data from S&P Global published Tuesday morning, however, painted a more positive picture of the sector, with the firm's US manufacturing PMI showing the strongest monthly increase since May 2022.

S&P Global's US manufacturing PMI came in at 53, above the 49.8 seen in July.

This report also showed, however, that tariffs continue to act as a headwind for manufacturing. S&P Global Market Intelligence's chief business economist Chris Williamson said in the report that factory inventories rose on concerns over coming price hikes and potential supply constraints.

"These concerns are being stoked by uncertainty over the impact of tariffs, fears which were underpinned by a further jump in prices paid for inputs by factories, linked overwhelmingly by purchasing managers to these tariffs," Williamson said.

"Cost increases are being passed on to customers via widespread hikes to factory gate prices," Williamson added.

"The big question is the degree to which these price rises will then feed through to higher consumer price inflation in the coming months."

Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at jake.co[email protected].

Click here for the latest economic news and indicators to help inform your investing decisions

Read the latest financial and business news from Yahoo Finance

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US manufacturing activity contracts for sixth straight month in August: 'It's survival'

US manufacturing activity contracts for sixth straight month in August: 'It's survival' Jake ConleySep...
New Photo - 'Pretty girl humor,' 'The Lorax' costume and why Halloween is already dividing the internet

'Pretty girl humor,' 'The Lorax' costume and why Halloween is already dividing the internet Alyssa Goldberg and Rachel Hale, USA TODAYSeptember 2, 2025 at 1:53 PM Already planning your Halloween costume? If you're considering wearing a corset top or dressing as "The Lorax," you may receive snarky re...

- - 'Pretty girl humor,' 'The Lorax' costume and why Halloween is already dividing the internet

Alyssa Goldberg and Rachel Hale, USA TODAYSeptember 2, 2025 at 1:53 PM

Already planning your Halloween costume? If you're considering wearing a corset top or dressing as "The Lorax," you may receive snarky remarks.

Halloween is more than a month away, but the internet is already divided over women's fashion choices for the holiday. In the age of fast fashion and micro trends, the pressure to be original — especially on Halloween — has never been more intense. And, Gen Z's obsession with not "being basic" has led to a hierarchy where niche costumes are held up as superior to traditional looks. Each year, tutorials for "rare cool girl Halloween costumes" flood TikTok. In recent years, corset-based costumes have skyrocketed in popularity, adding spice to Disney princesses, Fancy Nancy or a vampire look.

As an antidote to traditional sexy costumes, some users are promoting "weird girl" costumes, and it's sparking a heated debate. Viral videos show groups of girls dressed in head-to-toe neon orange Lorax fits, sporting Pitbull-style bald caps, or emanating Alexander Hamilton in a Founding Father outfit, complete with a powdered wig.

But not everyone's on board.

Some commenters say the costumes are just a facet of "pretty girl humor" or "popular girl humor." The term went viral on TikTok to describe conventionally attractive women who attempt to seem quirky or relatable by subverting typically feminine behavior.

"You can't complain about basic corset Halloween costumes if you're going as 'The Lorax.' You are two sides of the same basic coin," one user said in a TikTok with over 2.5 million views.

The online conversation underscores a bigger issue: how some women feel like they can't get it right, no matter what they do.

"We really attack girls for doing anything," one user commented on the viral video.

'Pretty girl humor,' 'The Lorax' costumes and why women can't win

The Halloween debate is a microcosm of women's daily struggles. Women may feel pressured to appeal to the male gaze, but when they show too much skin or cleavage, they might be ridiculed or shamed. When they opt for a humorous costume, like "The Lorax," they're accused of being a "pick-me girl" (an insult for a "chill girl" or girl who's "just one of the guys").

There's a fine line between "cool" and "cringe," and for women, that line may be even finer.

"There is the stereotype that women are not inherently funny people," Leora Tanenbaum, author of "Sexy Selfie Nation," previously told USA TODAY. "You can so easily be accused of trying too hard to be likable, which is what 'cringe' is."

Terms like "pretty girl humor" feed into this stereotype and further the "I'm not like other girls" ideology, which pits women against each other.

"It only ever demonizes femininity," one user commented on the viral video.

'Sexy baby,' 'Sexy Handmaid's Tale': Have Halloween costumes gone too far?

Memes can make a big impact

In 2024, terms like "girl math," "girl dinner" and "I'm just a girl" had an exhausting moment, and while they were fun for a while, they also reinforced negative gender stereotypes.

"Memes look playful, but they're pretty powerful," Miriam L. Wallace, the Dean of the College of Liberal Arts and Social Sciences at the University of Illinois-Springfield, previously told USA TODAY. "My worry is that it sets up and enables an underestimation of women's capabilities and capacity."

Likewise, terms like "basic" or "pretty girl humor" can get under people's skin and contribute to gender-based stereotypes, even if they're "just jokes."

"Everybody knows this is a thing, so we can laugh at it," Wallace explained. "But we also believe it at the same time, and that's when it gets really dangerous."

The 'girl dinner,' 'I'm just a girl' The memes were fun, but has their moment passed?

What happens when women lean into their sexuality

Ultimately, this fixation about what women wear and their sense of humor reflects the rise of modern-day internet police who dissect, judge and mock others behind a screen. At the end of the day, this takes agency away from women, who are constantly forced to consider how their appearance is perceived, even for something like a Halloween costume.

Especially on social media, women's choices become performances that an audience judges, and even efforts to "be different from other girls" are quickly turned into trends and then subjected to the same scrutiny. This is heightened when women embrace their sexuality.

Is Sabrina Carpenter for the male gaze? Why the way we talk about sex is changing

Experts say there's a difference between feeling sexy and being sexualized.

"Sexualization is sort of passive. It's when you're being sexualized by others," Erin Hipple, an assistant professor of social work at West Chester University, previously told USA TODAY. "Being sexy, to me, feels like an embodied, empowering thing."

Juliet Williams, a professor of gender studies at the University of California, Los Angeles, added: "If we gave girls and women more permission to imagine possibilities outside of standard norms of sexiness, they would experience Halloween as more freeing."

Contributing: Jenna Ryu

Rachel Hale's role covering Youth Mental Health at USA TODAY is supported by a partnership with Pivotal and Journalism Funding Partners. Funders do not provide editorial input.

This article originally appeared on USA TODAY: 'Pretty girl humor,' 'The Lorax' and the big Halloween debate

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'Pretty girl humor,' 'The Lorax' costume and why Halloween is already dividing the internet Alyssa...
New Photo - Google will not be forced to sell off Chrome or Android, judge rules in landmark antitrust ruling

Google will not be forced to sell off Chrome or Android, judge rules in landmark antitrust ruling Lisa Eadicicco, Clare Duffy, CNNSeptember 3, 2025 at 1:11 AM Although Google will not be forced to sell of its Chrome browser or Android, it will have to make certain search data available to qualified ...

- - Google will not be forced to sell off Chrome or Android, judge rules in landmark antitrust ruling

Lisa Eadicicco, Clare Duffy, CNNSeptember 3, 2025 at 1:11 AM

Although Google will not be forced to sell of its Chrome browser or Android, it will have to make certain search data available to qualified competitors to promote competition. - Mike Blake/Reuters/File

A court will not force Google to sell off its Chrome browser or Android, a federal judge said in a court filing on Tuesday. The decision serves as a significant win for the tech company, which has avoided the most extreme possible outcome from a landmark antitrust case that determined the company was operating an illegal online search monopoly.

Although Google will not be forced to sell of its Chrome browser or Android, it will have to make certain search data available to qualified competitors to promote competition. It will also be barred from entering into or maintaining exclusive contracts related to the distribution of services like Chrome, Search, the Google Assistant and its Gemini app.

Those agreements provide a significant source of revenue for Google and broad access to its services, although the company had proposed ditching those contracts as a potential remedy in the case. US District Court Judge Amit Mehta said in a ruling Tuesday that he had accepted Google's proposed remedies, in part.

The trial put Google's core business under a microscope at a time when it is already under threat of being toppled by AI chatbots. And it comes as the company is also gearing up to defend the operation of its online advertising business after it, too, was found to be an illegal monopoly earlier this year.

"Google will not be required to divest Chrome; nor will the court include a contingent divestiture of the Android operating system in the final judgment," the filing read.

Google did not immediately respond to a request for comment. CNN has reached out to the Justice Department for comment.

The ruling was closely watched across Silicon Valley, as other major tech giants are also fighting antitrust cases brought by the US government.

Mehta wrote that the rise of generative AI tools have "changed the course of this case," adding that ensuring Google's dominance in search doesn't "carry over into the GenAI space" was a key part of the remedies proceedings.

"And, unlike the typical case where the court's job is to resolve a dispute based on historic facts, here the court is asked to gaze into a crystal ball and look to the future," he wrote. "Not exactly a judge's forte."

Mehta ruled last fall that Google had violated US antitrust law with its search business, writing that the company "is a monopolist, and it has acted as one to maintain its monopoly."

In the weekslong "remedies" portion of the trial, Google argued that the Justice Department's proposed solutions would harm consumers by making it harder to access their preferred search engine and could stunt the US economy and American tech leadership. Chrome leader Parisa Tabriz testified that forcing Google to sell off Chrome would result in a "shadow of the current" web browser and would likely make it "insecure and obsolete."

Google has for years inked exclusive, multibillion-dollar contracts with device makers like Apple to secure its position as the default search provider on smartphones and web browsers, encouraging its dominance giving it what the court sees as being an unfair advantage that relies on consumer habit rather than choice. By 2020, 95% of all US search queries on mobile devices went through Google, Mehta noted in his opinion.

The move to prevent Google from entering into exclusive distribution deals is the court's way of leveling the playing field. Google will be barred from entering into agreements that require companies to preload Google Search, Chrome, the Google Assistant or Gemini in order to license its popular Google Play app store.

But many phone makers will likely still include Google's services because of their popularity, said Carolina Milanesi, president and principal analyst at tech research firm Creative Strategies.

"The value that these companies bring to the vendors and the people that partner with them is such that I don't know how many will decide not to preload their services," she said.

Google will still be allowed to pay partners to distribute its services – including its Search engine – on their products. Apple and Google have a lucrative deal in which the search giant pays the iPhone maker billions to be the default search engine on its web browser. Ending that partnership would have meant Google would no longer get default distribution on one of the world's most popular smartphones, while yanking a lucrative source of revenue from Apple.

"Cutting off payments from Google almost certainly will impose substantial—in some cases, crippling—downstream harms to distribution partners, related markets, and consumers, which counsels against a broad payment ban," the filing read.

Wedbush Securities analyst Dan Ives sees the ruling as a win for both Apple and Google, particularly following a Bloomberg report that the two companies may partner to incorporate Gemini into Siri.

"While in theory Google is barred from 'exclusive deals' for search this now lays the groundwork for Apple to continue its deal and ultimately likely double down on more AI related partnership with Google Gemini down the road," he said in a research note.

The outcome is a win for Google overall, says Robert Siegel, lecturer in management at the Stanford School of Business. But the decision to prohibit Google from entering into exclusive contracts means the company may have to try a little harder to entice consumers moving forward, especially amid heightened competition from rivals like OpenAI and Perplexity – the latter of which made an unsolicited, far-fetched offer to buy Chrome last month.

"This is all going to be about who delivers the best solution for how people interact with technology and AI going forward," Siegel said.

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New Photo - Morningstar details 2 forces that could derail a stock market that's historically dependent on Big Tech

Morningstar details 2 forces that could derail a stock market that's historically dependent on Big Tech William EdwardsSeptember 2, 2025 at 11:09 PM Lucas Jackson/Reuters The top 10 S&P 500 stocks now comprise 40% of the index, a record high.

- - Morningstar details 2 forces that could derail a stock market that's historically dependent on Big Tech

William EdwardsSeptember 2, 2025 at 11:09 PM

Lucas Jackson/Reuters -

The top 10 S&P 500 stocks now comprise 40% of the index, a record high.

High concentration in tech stocks poses risks if earnings disappoint, Morningstar says.

Other potential market threats include weak job growth and persistent inflation.

By at least one measure, the US stock market is more concentrated in its biggest names than it's ever been.

The top 10 stocks in the S&P 500 now make up about 40% of the benchmark index, an all-time high, according to Morningstar data.

Morningstar

High concentration in any portfolio can be risky because, while it can mean more upside potential if the select few names do well, it also comes along with more downside risk if things go awry.

This particular episode of concentration may be especially risky for the broader market because the top eight companies are technology or technology-like firms, said Dominic Pappalardo, chief multi-asset strategist at Morningstar Wealth.

"The vast majority of the top 10 are all very likely to move together," Pappalardo told Business Insider. "So if you have one or two of those tech names come out with, let's say, weak earnings next quarter, it's likely that all eight of those are going to move downward and sell off simultaneously, which is going to have an outsized impact on the level of that index."

He added: "If you go back to a period like April, where we had the post-Liberation Day sell-off, those names also led the market downward."

Pappalardo said it wouldn't be surprising to see a pullback in the market in the near future, given that S&P 500 is near record highs. And while he said he doesn't believe a recession is imminent, he also unpacked a few potential threats to the rally that could start to emerge in the months ahead.

For one, the labor market could soften further. The most recent jobs report showed historically weak employment growth in May, June, and July. Investors will get their next insight into the health of the labor market from the Bureau of Labor Statistics in the September 5 payrolls report.

The lackluster job growth appeared to be enough to convince the Federal Reserve to resume its rate cuts in September, which investors have cheered on. But Pappalardo said that rate cuts may only boost stocks if the labor market holds up.

"If the Fed is only cutting rates because they think the economy is weakening to a point where they have to step in and support it longer-term, that's not a great thing," he said.

Something else that could create issues for investors is inflation, he said. It has already proven sticky, with the Consumer Price Index up 2.7% year-over-year in July. Core Personal Consumption Expenditures, the Fed's preferred inflation measure, was up 2.9% in July.

Tariffs have fed into that data, and are still working their way into the economy, he said. If inflation remains elevated, the Fed is more likely to keep rates high, slowing economic activity.

"There's no question tariffs have increased prices for businesses and consumers, it's just a simple fact," Pappalardo said.

He added: "There are a lot of things that are lining up to be concerning."

To diversify your portfolio further if you're overweight tech stocks, Pappalardo suggested adding exposure to international stocks, small-cap stocks, and the healthcare sector because of its earnings prospects and low valuations.

on Business Insider

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Morningstar details 2 forces that could derail a stock market that's historically dependent on Big Tech

Morningstar details 2 forces that could derail a stock market that's historically dependent on Big Tech Willia...

 

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