Get the latest on financial happenings and Advisor best practices, all in one place.
A better-than-expected jobs report on Friday caused equity markets to jump allowing the S&P500 and Nasdaq to end in the black for the week while the Dow and smallcaps ended down. September nonfarm payrolls, came in at 336K vs consensus for 163K.
There was some bullish narrative this week that centered around stabilization of rates, particularly at the policy-sensitive short end of the curve.
All 11 sectors were lower this week with consumer discretionary and utilities faring the worst. The S&P moved back below its 100-day moving average for the first time since March and retested June lows just above 4300.
US equities were down this week, with the S&P and Nasdaq dropping back below their 50-day moving averages.
Stocks closed higher this week but ended the month lower overall. The S&P 500 and Nasdaq suffered their first monthly declines since February.
Week 41 Talking Points: PPI and CPI came in hotter than expected and more