After briefly hitting an all-time intra-day high again last Monday, the S&P 500 dropped the rest of the week. Most equity markets were down for the week with emerging markets down the most, falling more than 4% last week.
The 10-year U.S. Treasury yield has risen seven of the last nine weeks, and last week was another jump with yields across the curve rising.
Inflation readings came in mostly as expected with both consumer and producer prices in line with expectations for the month. U.S. retail sales slowed compared to an upwardly-revised September report though.
A look ahead
While many S&P 500 earnings reports are already in, one of the most important for the markets will hit this week as Nvidia is set to release third quarter results on Wednesday.
After several weeks with plenty of news, nine Federal Reserve officials will speak this week. Futures pricing is showing that the odds of another cut in December are just 60%.
Economic Releases: Housing Starts, Building Permits, Leading Economic Index, Existing Home Sales, U. of Michigan Consumer Sentiment.
Our full report is reserved for clients only. Let’s work together.
A caring advisor can help you uncover opportunities and take on challenges—and provide greater confidence, clarity, simplicity, and direction.
