Halfway through October and stocks are rebounding from their September losses, let's do a mid-month checkup, next.
The S&P 500, as of Friday’s close, is up 3.67% so far for the month of October, after falling 3.80% last month with stimulus headlines continuing to drive its action. The Russell 2000 or small-cap stocks are easily outperforming their larger counterparts, returning over 8% for the month. Looking outside the U.S., and emerging markets have returned just under 4% with international developed stocks returning one-and-a-half percent thus far this month. Just keep in mind, that with a volatility reading in the high 20s, these return numbers can easily change as we go through the second half of the month.
For the week ahead, we get a good amount of housing data this week – from homebuilders’ confidence to housing starts to existing home sales. Most of the housing data have already surpassed their pre-covid highs making housing one of the bright spots of our economy. So, let us see if this economic bright spot continues or if there is a cooling in the data.
For a more detailed market report head on over to our Insights page. Where there are some of the key economic data points to be released this week. Also, subscribe to our YouTube channel and check out some of our other social media pages.
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