Unify Financial Advisors Weekly Market Update
U.S. equities extended their rally last week, with the S&P 500 gaining 1.92% to close at 6,791.69, reaching a new record high. Investor sentiment improved as the third-quarter earnings season began on a strong note, particularly among major banks, while softer-than-expected September inflation data fueled optimism for a potential Federal Reserve rate cut at this week’s meeting.
On the economic front, existing-home sales rose 1.5% in September amid easing mortgage rates, while consumer prices increased 0.3%, signaling moderating inflation pressures.
Weekly Outlook
Markets will focus on the Federal Open Market Committee (FOMC) meeting and the expected 0.25% rate cut. Several tech earnings reports are scheduled for release this week, including those from Microsoft, Meta, Google, Apple, and Amazon.
For a more detailed analysis of last week’s markets and economic trends, check out the latest issue of Market Week.
Follow us on Facebook for these weekly updates and articles at Unify Financial Advisors Facebook Page.
Thank you for reading! You are welcome to contact me directly with questions or comments.
Regards,
David Bennett