Weekly Market Roundup | Week of October 9

Key Developments

• The S&P 500 snapped its four week losing streak, gaining 0.5% last week. Growth sectors outperformed, with Communication Services (+3.1%) the leader. Energy lagged (-5.4%).
• Economic data was mostly better than expected, with the ISM Manufacturing and Services Indices above estimates. The September jobs report also handily beat expectations, with the number of jobs added in the prior month nearly double consensus.
• Treasury yields continued their move higher this week, with the 10-year closing at 4.80% on Friday.
• After hitting a strong resistance level near $95, WTI crude oil fell sharply into the end of the week, while other commodities also saw downside given the move in yields and strengthening dollar.
• Inflation data will be closely monitored this week, with PPI on Wednesday and CPI on Thursday.

This Week’s Economic Data

Chart of the Week

Consumers are Working Two Jobs to Make Ends Meet

-The number of jobholders with two jobs has now rose to a record high in data going back to 1994.

-This could be a sign that consumers may be having difficulty to make ends meet in a stickier inflation environment.

Global Cross-Asset Performance Summary

Weekly

Year to Date

S&P 500 Sector Performance

Weekly

Year to Date

US Equity Market Style and Size Performance