Weekly Market Roundup | Week of October 30

Key Developments

  • The S&P 500 declined 2.5% last week, with Utilities (+1.2%) the only sector higher. Communication Services lagged and dragged the index lower (-6.3%).
  • Mixed results for Q3 earnings reports and potential escalation in the conflict in the Middle East prompted risk-off trading action.
  • Gold rose above $2,000/oz for the first time since May.
  • This week the Fed meeting on Wednesday will be in focus, in addition to the jobs report on Friday.

This Week’s Economic Data

Chart of the Week

Gold Continues March Higher as Escalation Fuels Risk Off

  • Gold hit $2,000 per ounce last week, as investors flocked to the asset as the conflict in the Middle East escalated.
  • The yellow metal is now up over 10% since its October local low, and is within 3.5% of its all-time high.

Global Cross-Asset Performance Summary


Year to Date

S&P 500 Sector Performance


Year to Date

US Equity Market Style and Size Performance

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1 comment

  1. (0) 0
    Steven Rhines says:

    Is there any mitigation with the Pasco risk of TUR? I don’t know if it matters if they’re NATO or not they could get involved.