Weekly Market Update – Oct. 9, 2018

Last Week

  • U.S. and non-U.S. developed market equities declined 1.3% and 2.2%, respectively, while emerging markets struggled with a 4.5% drop
  • The 10-year Treasury yield reached 3.23% near the end of last week, the highest since 2011 as investors become more optimistic on the U.S. economy
  • The unemployment rate, previously 3.9%, moved down more than expected to 3.7%, a 48-year low
  • U.S. and Canada revise NAFTA hours before deadline. The new deal, titled the United States-Mexico-Canada Agreement, will have its biggest impacts on carmakers and those in the agriculture industry

This Week

  • Consensus third quarter earnings estimates predict 19.3% year-over-year growth, which is modestly lower than prior quarters
  • China import/export data will be posted on Friday with estimates showing decreases from prior levels to 14.5% for imports and 8.7% for exports year-over-year
  • Sentiment readings in the form of NFIB Small Business Optimism and University of Michigan Consumer Sentiment are expected to increase slightly
  • U.S. headline Consumer Price Index data is expected to decrease from 2.7% year-over-year to 2.4%

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