Weekly Market Update – Oct. 1, 2018

Last Week

  • Friday marked the end of the third quarter, with global equities falling 0.6% last week, including declines across U.S. (-0.5%), non-U.S. developed market (-0.9%), and emerging market equities (-0.3%)
  • Wednesday, the Fed raised rates for the third time in 2018
  • Monday, the U.S. implemented tariffs on $200 billion of China goods; China hit back with tariffs on $60 billion of U.S. goods
  • Over the last week and a half, S&P and MSCI indices have been rebalanced to reflect the creation of the communication services sector which consists of the former telecommunications sector along with a number of media and internet companies

This Week

  • Friday’s U.S. jobs report is expected to reflect a positive backdrop with 185k jobs added, just under the 2018 average of +207k
  • Final Purchasing Managers’ Index data expected to show ongoing U.S. growth momentum
  • With the third quarter wrapping up and earnings season around the corner, investors will review U.S. companies’ earnings closely for trade impacts as well as confirmation that benefits from tax cuts are continuing to provide support


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