US Equity Markets hit fresh record highs last week as several economically sensitive sectors rebounded after lagging for several weeks. The S&P 500 rose 1.2% for the week and is now up 14.1% for the year. The Nasdaq was up 0.6% for the week to bring its gains for the year to 17.7%, while the Russell 2000 (small cap stocks) fell 0.9% for the week and is now up 13.1% for the year.
Global Equity Markets declined last week as pressures in Europe offset gains in Asian markets. Developed Markets were down 0.5% for the week and are now up 6.7% for the year. Emerging Markets fell a fractional 0.01% for the week and remain up 21.7% for the year.
US Interest Rates touched new highs before falling last week. The yield on the US 10-Year Treasury hit fresh highs at 5.36% last week, but a healthy Treasury auction reassured investors, leading the 10-Year to close at 5.24% vs. 5.28% the prior week. Investors are currently placing a 68% probability that the Fed raises rates by another 0.25% at its meeting in December.
Of Interest to Us
Earnings Growth is expected to be robust for Q3. With earnings season poised to begin this week, the Street currently expects earnings growth for Q3 to be 29.6% from a year ago. If that does indeed occur, it will mark the third consecutive quarter that earnings growth has exceeded 25%. That has not happened since 2021 as profits recovered from the pandemic.
Market Data
for the week ending 10/9/2026
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