Strategic Planning Corporation
Weekly Economic Update
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Yes, the end of this week brings Halloween, but we are looking ahead to a much better event coming up about 5 weeks later - our 9th Annual SPC Christmas Party at High Point Country Club on Saturday, December 6th at 9:30 AM. Emailed invitations should begin arriving this week, but if you want to get a jump on this extraordinarily popular event, you can register to join us along with your entire family and any friends you would like to invite to attend with you. To register now, CLICK HERE.
Now if you can't make that party on December 6th, we have a second party in Clover, SC the following Saturday, December 13th at Clover Presbyterian Church, also at 9:30 AM. And you can go ahead and register for that party at THIS LINK.
We love holding these parties in conjunction with our associate, Philip Corson's, Legacy Law Firm. You are welcome to come to either, or even to both of these parties and we really do enjoy having your family and friends enjoy the morning with us. We will have great food, a book, gifts, some games and some useful information that you will be able to enjoy with many of our friends.
I am going to bail today on a longer dissertation to which you are usually treated here! Yesterday I played in a charity golf tournament for UNPACKIN'it in Charlotte, NC. Nothing particularly unusual about that. It was their 10th annual event and only the second time in those 10 years that it rained. And, BOY, did it rain?!?!? And it was WINDY! And it was COLD! I am worn out!
By the way, if you like sports, you can check out the UNPACKIN'it website at www.UNPACKINit.com to see what they do and how you can benefit from connecting with them.
So I will tell you that all is well, but I will try to return to this section next week with a little more for you and in the meantime enjoy the week, the trick or treaters and try not to eat too much chocolate and other candies!!
Enjoy the rest of this week's read.
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Weekly Economic Update
for the Week of
October 27, 2025
Quote of the Week:
“There is nothing wrong with men possessing riches. The wrong comes when riches posses men."
~ Billy Graham
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The Week in Brief
Stocks rose last week thanks to a full slate of upbeat third-quarter corporate results and mild inflation data, which helped soften concerns over trade tensions with China.
The Standard & Poor’s 500 Index gained 1.92 percent, while the Nasdaq Composite Index rose 2.31 percent. The Dow Jones Industrial Average advanced 2.20 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, rose 1.24 percent.1,2
S&P, Dow Set New Highs on Friday
Stocks rose out of the gate as optimism returned to markets. Strength in the tech sector—and whispers of an imminent end to the government shutdown—pushed all three market averages higher.3
But the strong start turned mixed as some pressure on megacap tech stocks pulled down the Nasdaq. But while tech stocks regrouped, attention shifted to the Dow Industrials, which hit a record intraday high of 47,000 and a record close.4
Sentiment soured midweek as weaker-than-expected earnings results from two megacap tech companies dragged down technology names. Markets came under further pressure following news that the administration was considering restrictions on U.S.-made software exported to China. The S&P, Dow, and Nasdaq all closed lower on Wednesday.5
But the mood brightened Thursday as more megacap tech companies announced strong Q3 results, and as the White House confirmed a scheduled meeting with China.
News on Friday that inflation rose more slowly than expected boosted all three averages. The S&P 500 and Dow Industrials hit all-time intraday and closing highs.6
| | Source: YCharts.com, October 25, 2025. Weekly performance is measured from Monday, October 20 to Friday, October 24. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points. | | |
Inflation Eases
The Consumer Price Index report, delayed due to the government shutdown, showed prices rose by 3.0 percent in September on an annualized basis, slightly cooler than the 3.1 percent forecast.
This news paved the way for the Fed to stick with its penciled-in rate cut at its two-day meeting, which ends on October 29.
In addition to the upbeat inflation news, Q3 corporate earnings–one of the key drivers of stock prices–have been beating expectations 80% of the time as of Friday.7
This Week: Key Economic Data
Monday: Durable Goods.
Tuesday: Case-Shiller Home Price Index. Consumer Confidence.
Wednesday: Trade Balance in Goods. Retail & Wholesale Inventories. Pending Home Sales. Federal Open Market Committee meeting, Day 2. Fed Interest Rate Decision. Fed Chair Press Conference.
Thursday: Gross Domestic Product (GDP). Weekly Jobless Claims. Fed Official Michelle Bowman speaks.
Friday: Personal Consumption & Expenditures (PCE) Index. Dallas Fed President Logan, Cleveland Fed President Hammack, and Atlantic Fed President Bostic speak.
Source: Investors Business Daily - Econoday economic calendar; October 24, 2025. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.
This Week: Companies Reporting Earnings
Monday: Welltower Inc. (WELL), Cadence Design Systems, Inc. (CDNS), Waste Management, Inc. (WM)
Tuesday: Visa Inc. (V), United Health Group Incorporated (UNH), NextEra Energy, Inc. (NEE), Booking Holdings Inc. (BKNG), Southern Copper Corporation (SCCO), American Tower Corporation (AMT)
Wednesday: Microsoft Corporation (MSFT), Alphabet Inc. (GOOG/GOOGL), Meta Platforms, Inc. (META), Caterpillar Inc. (CAT), ServiceNow, Inc. (NOW), Verizon Communications Inc. (VZ), The Boeing Company (BA), KLA Corporation (KLAC), Automatic Data Processing, Inc. (ADP), CVS Health Corporation (CVS), Starbucks Corporation (SBUX)
Thursday: Apple Inc. (AAPL), Amazon.com, Inc. (AMZN), Eli Lilly and Company (LLY), MasterCard Incorporated (MA), Merck & Co., Inc. (MRK), Gilead Sciences Inc. (GILD), Stryker Corporation (SYK), S&P Global Inc. (SPGI), Comcast Corporation (CMCSA), Altria Group, Inc. (MO), The Southern Company (SO)
Friday: Exxon Mobil Corporation (XOM), AbbVie Inc. (ABBV), Chevron Corporation (CVX)
Source: Zacks, October 24, 2025. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.
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FEATURE ARTICLE
Despite Economic Pressure, This Halloween Is Expected to Be Bigger Than Ever
Efficient Advisors-Evidence Based Advisors/Investor Minute
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It's a story of unexpected resilience, involving pumpkins, zombies, K-Pop stars, and lots of candy. According to the National Retail Federation, spending on Halloween this year is expected to top $13.1 billion, up nearly 13% from last year's $11.6 billion.1
This is a truly staggering figure. By comparison, this far surpasses last year's domestic movie box office total of $8.6 billion.2 And it's closing in on the NFL's 2024 gross of $13.8 billion.3
Nearly three-quarters of Americans are planning to celebrate the holiday and will spend an average of $114.75 each to do so. That's about an $11 increase from last year. And the overwhelming majority of Halloween shoppers believe they will be paying more because of tariffs, inflation, and other economic factors.
Costumes, the biggest spending category for the holiday, are predominantly manufactured in China, Vietnam, and other Asian countries most affected by price increases due to tariffs. These have ranged from 5% to 19% at the wholesale level. Many retailers imported their Halloween inventory before tariffs fully kicked in, but the trendiest costumes based on the latest popular media (for example, singing demon hunters) have most likely arrived with added cost.
Spending on Halloween decorations (the second largest category) is expected to increase 11% to $4.2 billion. Again, some of this increase is due to tariffs. But it also seems that more and more people are going all out to decorate their yards with massive spiders and towering skeletons.
Expenditures on candy (the third largest category), arguably the primary reason for trick-or-treating, are predicted to reach $3.9 billion, also increasing by 11%. Chocolate is king of candyland, with little ghosts and goblins favoring houses that pass out the full-size Hershey Bars.
But unfortunately for chocolate lovers, the industry has been experiencing rising costs for several years, due largely to weather extremes. West Africa, which produced 70% of the world's cocoa, has been hit by heavy rains followed by drought. As a result, last year's cocoa production fell 12%, creating the highest supply deficit in more than 60 years.
Of course, consumers are responding to these higher prices by changing their purchasing behavior. The data shows that Halloween shoppers are increasingly visiting discount stores, buying smaller candy, and taking advantage of sales.
Phil Lempert, who writes about food and retail trends for Forbes, believes that people are willing to pay more for Halloween because it's an entertaining tradition to them. "Families are committed to maintaining Halloween celebrations especially now," he writes, "where tensions are heated and emotions easily triggered."
In other words, people are looking for distraction and a bit of fun.
While the unexpected growth of Halloween serves as a good example of the complexity and unpredictability of the economy, it's also an example of the human element in financial decisions. People find a way to pay for the things that are important to them.
We hope this Halloween you get a chance to meet your neighbors, and that you can be the house that gives out the good stuff.
Sources:
1. http://go.pardot.com/e/91522/-breaking-scare-for-consumers-/96wwyy/2915339722/h/P9hE_zkVAvDwgPlGvVnNigGNLv_EWLCnLnAeUiTY21U
2. http://go.pardot.com/e/91522/market-2024-summary/96wwz2/2915339722/h/P9hE_zkVAvDwgPlGvVnNigGNLv_EWLCnLnAeUiTY21U
3. http://go.pardot.com/e/91522/d-by-packers-financial-report-/96wwz5/2915339722/h/P9hE_zkVAvDwgPlGvVnNigGNLv_EWLCnLnAeUiTY21U
Disclosure:
The views expressed herein are exclusively those of Efficient Advisors, LLC (‘EA’), and are not meant as investment advice and are subject to change. All charts and graphs are presented for informational and analytical purposes only. No chart or graph is intended to be used as a guide to investing. EA portfolios may contain specific securities that have been mentioned herein. EA makes no claim as to the suitability of these securities. Past performance is not a guarantee of future performance. Information contained herein is derived from sources we believe to be reliable, however, we do not represent that this information is complete or accurate and it should not be relied upon as such. All opinions expressed herein are subject to change without notice. This information is prepared for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. You should seek financial advice regarding the appropriateness of investing in any security or investment strategy discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. You should note that security values may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Investing in any security involves certain systematic risks including, but not limited to, market risk, interest-rate risk, inflation risk, and event risk. These risks are in addition to any unsystematic risks associated with particular investment styles or strategies.
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Weekly Tip
A thought to consider!
Finding the Goldilocks Tax Withholding
Just like how Goldilocks had to try the porridge that was too hot and then the one that was too cold before she found one that was just right, you need to find the amount of tax withholding that’s not too much or too little for your circumstances. No one wants a nasty surprise when Tax Day comes, and proper withholding can help you manage these surprises.
You should especially check your withholding after a significant life change, such as marriage, divorce, the birth of a child, a move, or changes in tax law.
How much should you withhold? The Tax Withholding Estimator on the IRS website can help determine if you have too much income tax withheld and how to adjust it.
This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.
Tip adapted from IRS8
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Riddle of the Week:
If used in an emergency, I can help the hero – yet when you multiply all the numbers on my face, all you get is zero. What am I?
Last Week's Riddle:
Fill in the blank: if Ruby’s mom is Patricia, then Patricia is the ____ of Ruby’s mother.
Last Week's Answer:
Name
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Sincerely,
R. Michael Flanders, CLU, CFP®
Certified Financial Planner™professional
Strategic Planning Corporation
mike@SPCinvesting.com
www.SPCinvesting.com
(336) 706-2605
Investment Advisory Services offered through
Strategic Planning Corporation
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Some of this material was prepared by FMG Suite or Efficient Advisors LLC, and does not necessarily represent the views of the presenting party, nor their affiliates. The information presented herein should not be construed as investment advice. This information has been derived from sources believed to be accurate. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged herein in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional.
This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. It is not possible to invest directly in an index. NYSE Group, Inc. (NYSE:NYX) operates two securities exchanges: the New York Stock Exchange (the "NYSE") and NYSE Arca (formerly known as the Archipelago Exchange, or ArcaEx®, and the Pacific Exchange). NYSE Group is a leading provider of securities listing, trading and market data products and services. The New York Mercantile Exchange, Inc. (NYMEX) is the world's largest physical commodity futures exchange and the preeminent trading forum for energy and precious metals, with trading conducted through two divisions - the NYMEX Division, home to the energy, platinum, and palladium markets, and the COMEX Division, on which all other metals trade. The MSCI EAFE Index was created by Morgan Stanley Capital International ("MSCI") and serves as a benchmark of the performance of major international equity markets, as represented by 21 major MSCI indexes from Europe, Australia and Southeast Asia. Additional risks are associated with international investing, such as currency fluctuations, political and economic instability and differences in accounting standards. U.S. Treasury Notes are guaranteed by the federal government as to the timely payment of principal and interest. However, if you sell a Treasury Note prior to maturity, it may be worth more or less than the original price paid. Fixed income investments are subject to various risks including changes in interest rates, credit quality, inflation risk, market valuations, prepayments, corporate events, tax ramifications and other factors.
This material represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. All economic and performance data is historical and not indicative of future results. Market indices discussed are unmanaged. Investors cannot invest in unmanaged indices.
Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.
Forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.
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CITATIONS:
1. WSJ.com, October 24, 2025
2. Investing.com, October 24, 2025
3. CNBC.com, October 20, 2025
4. CNBC.com, October 21, 2025
5. CNBC.com, October 22, 2025
6. WSJ.com, October 24, 2025
7. WSJ.com, October 24, 2025
8. IRS.gov, May 16, 2025
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