Weekly Market Bullets

for the week ending 10/30/2026

• US Equity Markets closed last week mostly lower as a deepening correction in AI-related stocks overshadowed strength across much of the broader market. The S&P 500 fell 0.6% for the week and is now up 10.7% for the year. The Nasdaq tumbled 2.0% for the week amid weakness in tech stocks to bring its gains for the year to 9.4%, while the Russell 2000 (small cap stocks) rallied 1.3% for the week and is now up 13.3% for the year.

• Global Equity Markets were mixed last week as European economic growth surprised to the upside while Asian markets were more heavily impacted by the tech sell-off. Developed Markets were up 0.7% for the week and are now up 7.7% for the year. Emerging Markets dropped 0.7% for the week to bring its gains for the year to 11.6%.

• The Fed left rates unchanged at their meeting last week, though US Interest Rates ultimately declined. As expected, the Fed chose to keep rates unchanged at its FOMC meeting last week despite better-than-expected Q3 economic growth, which came in at 3.4% vs. 2.2% in Q2. The yield on the US 10-Year Treasury closed the week at 4.93% vs. 5.00% the prior week. Investors are currently placing a 71% probability of a Fed rate hike at its next meeting in December.

• Consumer Spending is increasing across all income groups. According to new data from the Federal Reserve, consumer spending growth has been running at a 4-5% annual rate across all income groups since 2024. Further, household net worth has increased substantially since 2019 across all income groups including by roughly 80% for the bottom 20% of households.This data may help explain the resilience in US consumer spending.

Market Data

for the week ending 10/30/2026