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In October, mixed economic signals prompted investors to reassess expectations for Federal Reserve rate cuts, especially after a surprising September jobs report showed 254,000 new jobs and a dip in the unemployment rate to 4.1%. Despite ongoing inflation concerns, retail sales and consumer sentiment improved, leading to a raised GDP forecast for the third quarter to 3.0%. However, bond yields rose following the jobs report, reflecting uncertainty about the Fed's future actions amid a volatile market.
Earnings season is in full swing, with major companies like Tesla, IBM, and General Motors set to report this week. The S&P 500 has seen a 23% gain this year, and earnings are expected to grow 5%-7% this quarter, led by Information Technology, Communication Services, and Healthcare sectors.Economic indicators are also in focus, with Durable Goods orders anticipated to fall 4.5% year over year. Retail Sales exceeded expectations in September, rising 0.4%, while mortgage rates have climbed to 6.44%. The next Fed rate decision is expected on November 7, with a 90% chance of a 25-basis-point cut.
Chris Graja
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
economic outlook improves as job growth and retail sales rise
16:01 30.10.2024
earnings season heats up as economic indicators signal mixed trends
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