Brad McMillan, Commonwealth’s CIO, recaps October’s market and economic news. U.S. indices were down for the third consecutive month, with the Nasdaq doing the worst. International markets also pulled back, and fixed income was down. Despite the market performance, job growth remained healthy, consumer income and spending grew, and retail sales increased. And while the housing market will pull inflation down, improvement there may be slowing. Will interest rates stabilize as we head into November? Stay tuned to find out.
Market Thoughts for November 2023