Price Return Last Week
S&P 500 +1.1% S&P Mid Cap +1.1% Russell 2000 +1.0%
MSCI EAFE +0.2% MSCI EM (1.7%)
10 Yr US Treasury Rate – rose from 3.98% to 4.07%
Source: Refinitiv Eikon
Recent News
Core CPI – September: 0.3% (Reuters Poll est. 0.2%) August: 0.3%
Core inflation was reported slightly higher than estimated. Services inflation remains stubbornly high with an annual increase of 4.7% through September. Shelter inflation grew at a slower pace than the previous month but this was offset by faster price increases on apparel and used cars. The core inflation increase over the last twelve months stands at 3.3%.
Source: Refinitiv Eikon, U.S. Bureau of Labor Statistics
Social Security Adjustment – The Social Security Administration announced that retirees’ benefits will increase 2.5% in 2025. This represents the lowest increase in four years. Over the previous three years, benefits have increased by a cumulative 18.8% to help retirees offset rising prices.
Source: The Wall Street Journal
China Stimulus Announcement – Following news last month that China was set to offer fresh stimulus to increase economic growth, the Chinese Finance Minister Lan Foan held a news conference on Saturday that discussed upcoming support. While he reiterated China’s plans for broad support, a lack of specific details on the timing and size of stimulus left some investors disappointed. Oil prices fell 2% after the meeting with many citing lower expected growth from China as the culprit.
Source: Refinitiv Eikon, Thomson Reuters
The Dark Knight Gets a Star – Batman became the first ever superhero with a star on the Hollywood Walk of Fame last month. Batman first appeared in a comic book in 1939 and since then he has been featured in 18 films. Christopher Nolan’s The Dark Knight has the highest rating (9.0) on IMDB, while the 1997 film Batman & Robin has the lowest rating (3.8). A new installment in the Batman timeline just began in September with Collin Farrell portraying the Penguin in the HBO series by the same name.
Source: Esquire, IMDB.com
Upcoming Events
10/15 – Notable Earnings Reports: Bank of America, Walgreens Boots Alliance, State Street, Progressive, Citigroup, Goldman Sachs, Johnson & Johnson, Charles Schwab, UnitedHealth Group, United Airlines
10/16 – Notable Earnings Reports: Las Vegas Sands, Abbott Labs, Morgan Stanley, US Bancorp
10/17 – Retail Sales, Notable Earnings Reports: Blackstone, Truist, Netflix
10/18 – Notable Earnings Reports: American Express, Schlumberger, Fifth Third, Procter & Gamble
Source: Refinitiv Eikon
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