A look back
- Stocks rebounded with solid gains despite volatile trading. The S&P 500 was up 1.7% on the week, though four days saw over a 1% intraday swing. Meanwhile, international developed markets lagged the U.S. with a 0.7% gain.
- U.S. Treasury yields dropped as the yield curve steepened with rates falling by more on the shorter end. On Thursday, the 10-year U.S. Treasury yield closed below 4.00% for the first time since April before ending the week at 4.00%.
- While the government shutdown continued, earnings season got off to a nice start, highlighted by solid results from major banks
A look ahead
- Third quarter earnings season picks up with 89 companies in the S&P 500 set to report. Large consumer and technology-focused companies will be in the limelight, while financials remain in focus with numerous regional banks on deck.
- As the government shutdown enters its fourth week and economic reports continue to be delayed, the Consumer Price Index (CPI) is set to be released to provide an inflation update.
- Economic releases: Existing Home Sales, Consumer Price Index, New Home Sales*.
*data delayed pending the government shutdown
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