Last month reaffirmed the age-old investing adage that markets often rise despite prevailing concerns. Remarkably, every major asset class recorded gains in October. This marks the third such occurrence this year, where prices across all categories have been driven up in a single month. Previous instances of similar expansive growth were noted in January and June.
House approves Trump impeachment rules in partisan vote: The Hill
Trump critiques Fed Chairman Powell a day after interest rate cut: CNBC
Economists predict a hiring slowdown in today’s October jobs report: Bloomberg
Private survey indicates expansion in China’s manufacturing sector in October: CNBC
Corporate profits surpassed expectations yet remain on a weakening trend: WSJ
US jobless claims rise, yet indicators suggest a strong labor market: Reuters
Chicago PMI declines to a nearly four-year low in October: MW
Announced job cuts in the US rose by 21% in October compared to September: CG&C
Wage inflation increased slightly in the third quarter, remaining moderate: MStar
Consumer spending trends in the US saw a moderate increase in September:
Global equity markets have maintained year-to-date gains, with stocks from Eastern Europe and Russia currently leading the pack, closely followed by US shares, based on data from various exchange-listed funds.
Chinese officials express skepticism regarding a trade agreement with the US: Bloomberg
China’s official manufacturing PMI falls deeper into recession in October: CNBC
House prepares for its first floor vote on impeachment today: The Hill
Federal Reserve cuts its target rate by 1/4 point to the range of 1.5%-1.75%: Bloomberg
Fed rate cut garners dissent from two officials: WSJ
US GDP growth in Q3 slows to a modest 1.9%: MW
Private employment growth slips to an eight-year low in October: ADP
Earlier this month, I examined a recent BlackRock report that emphasized how macroeconomic factors primarily influence investment strategy outcomes. As a follow-up, let’s delve into a practical example of analyzing portfolios through a macroeconomic perspective.
Democrats outline impeachment procedures: The Hill
UK set to hold general election in December, potentially breaking Brexit deadlock: Reuters
Fed anticipated to cut interest rates again today: CNBC
Key things to monitor in today’s Q3 GDP report: MW
US pending home sales increased in September, marking the third gain in four months: MW
Consumer Confidence Index for the US fell in October, yet remains optimistic: CB
US home prices increased by 3.2% in August compared to last year, up from 3.1% in July: CNBC
US 10-year-3-month Treasury yield curve rises to a 7-month high of +0.20%:
The preliminary estimate for third-quarter economic activity in the US is expected to show a slight decline, according to median projections. The government’s initial Q3 data, set to be released on October 30, is likely to reveal modest growth. This report indicates that the economic trend has decelerated for the second consecutive quarter, if only marginally.
A White House official is set to testify regarding Trump and national security concerning Ukraine: Politico
House is preparing to vote this week to formalize Trump’s impeachment: Fox
US stock market (S&P 500) reached a record high this past Monday: CNBC
Early October data suggests China’s economic slowdown persists: Bloomberg
IEA predicts excess supply in the oil market for 2020: CNBC
Is the economy losing its influence as an electoral factor? NY Times
US imports and exports both declined in September as trade deficit narrowed: Bloomberg
Manufacturing growth in Texas slowed down in October: Dallas Fed
US growth, already below trend, further decelerated in September: Chicago Fed
Last week, commodities delivered the strongest gains among the major asset classes, based on data from exchange-traded funds. Equities also performed positively during the trading week concluding on October 25.
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ISIS leader eliminated in a US military operation in northwest Syria: The Hill
EU grants the UK a Brexit extension until January 31: Reuters
Bank lending to eurozone companies decreased significantly in September: Reuters
Alberto Fernández from the center-left wins Argentina’s presidential election: BBC
US Consumer Sentiment Index indicates that Americans remain optimistic: MW
NABE survey reveals US business hiring has fallen to a 7-year low: Fox
US budget deficit grows to nearly $1 trillion in 2019, the largest gap since 2015: WaPo
The recent developments in market performance and economic indicators highlight the complex interplay between various sectors. As we navigate through evolving global landscapes, staying informed about these shifts is essential for strategic investment and economic foresight.
