US Equity Markets pushed higher last week, as favorable inflation data reinforced expectations for a Fed rate cut at its meeting this week. The S&P 500 rose 1.9% for the week and is now up 15.5% for the year. The Nasdaq was up 2.3% for the week to bring its gains for the year to 20.2%, while the Russell 2000 (small cap stocks) increased 2.5% for the week and is now up 12.7% for the year.
Global Equity Markets increased last week on rising hopes that the upcoming meeting between President Trump and Chinese Premier Xi will be fruitful. Developed Markets were up 1.2% for the week and are now up 24.4% for the year. Emerging Markets rose 2.0% for the week to bring its gains for the year to 29.2%.
US Inflation Data for September were better than expected. Delayed by the government shutdown, the Consumer Price Index (CPI) for September showed a 3.0% increase from a year ago, up from 2.9% in August but slightly below expectations of 3.1%. Core CPI, which excludes food and energy prices, was also up 3.0% from a year ago, down from 3.1% in August and below forecasts of 3.1%.
Of Interest to Us
US Gasoline Prices hit their lowest level of the year. According to AAA, the national average of a gallon of gasoline ended the week at $3.06, down from $3.14 a year ago and its lowest level since December 2024. Lower gas prices could provide a boost to consumers as we head into the holiday season.
Market Data
for the week ending 10/24/2025
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