{"id":643,"date":"2021-11-01T00:00:00","date_gmt":"2021-11-01T00:00:00","guid":{"rendered":"https:\/\/www.retirementrefined.com\/index.php\/2021\/11\/01\/markets-finish-october-strong\/"},"modified":"2021-11-01T00:00:00","modified_gmt":"2021-11-01T00:00:00","slug":"markets-finish-october-strong","status":"publish","type":"post","link":"https:\/\/www.retirementrefined.com\/markets-finish-october-strong","title":{"rendered":"Markets Finish October Strong!"},"content":{"rendered":"

Technology led the charge<\/b> last week, despite Apple <\/b>and Amazon<\/b> missing their profit estimates for the 3rd<\/sup> quarter.\u00a0 <\/span>For the week, the Nasdaq composite<\/b> rose 2.72%,<\/b> the S&P 500 1.35%,<\/b> the Dow Jones .40%<\/b> and the Russell 2000 .27%.<\/b><\/p>\n

Over the pond, stocks didn\u2019t fare so well, with foreign stocks dropping (.10%)<\/b> and emerging market stocks down (2.18%).<\/b><\/p>\n

Bond yields<\/b> remain in a trading range with the 10-Year finishing the week with a yield of 1.56%.\u00a0 <\/span>Shorter term rates<\/b> are rising faster than longer dated rates, which is worth watching.<\/p>\n

2 Months Left!<\/b><\/p>\n

Wow, 2 months until we welcome 2022!<\/b>\u00a0 <\/span>Not to be redundant, however time sure does move quickly.\u00a0 <\/span>Hopefully everyone is able to slow down and enjoy life<\/i><\/b>!<\/p>\n

GDP for the 3rd quarter<\/b> was announced last week, coming in at 2%<\/b>.\u00a0 <\/span>Keep in mind, this number will be revised 2 more times<\/b>, as data becomes more available from late August and September.\u00a0 <\/span>The 2% is being blamed on supply constraints<\/b>, limiting purchases by consumers and businesses.\u00a0 <\/span>Certainly doesn\u2019t seem that way!<\/p>\n

This week we\u2019ll hear the Fed,<\/b> most likely to announce the start of reducing the<\/b> amount of monthly bond purchases<\/b> from $120 billion per month.\u00a0 <\/span>The timeline and verbiage used will impact the markets one way or another.<\/p>\n

This<\/strong> Friday <\/b>we\u2019ll hear the jobs report for the month of October<\/b>.\u00a0 <\/span>I wonder if the Fed is aware of the data prior to Friday?\u00a0 <\/span>We certainly know American Airlines, restaurants, brick and mortar retail, and many other industries are desperate for workers.<\/p>\n

Also possible this week, the House will vote on the 2 pending bills<\/b> in Congress that will certainly shape tax policy for a few years forward.\u00a0 <\/span>The media\u2019s focus<\/b> is what will pass impacting billionaires!<\/b>\u00a0 <\/span>The real impact will be on upper tax brackets, placing many small business owners in the same bracket as billionaires. \"\"<\/i><\/b><\/p>\n

November and December <\/b>historically are good months for the stock market<\/b>. Since 1980<\/b>, November <\/b>has an average gain of 1.93%<\/b> and December<\/b> has an average gain of 1.3%.\u00a0 <\/span><\/b>I will be surprised if the markets don\u2019t move higher between now and year end as momentum and inflows are very positive.<\/p>\n","protected":false},"excerpt":{"rendered":"

Technology led the charge last week, despite Apple and Amazon missing their profit estimates for the 3rd quarter.\u00a0 For the week, the Nasdaq composite rose 2.72%, the S&P 500 1.35%, the Dow Jones .40% and the Russell 2000 .27%. Over the pond, stocks didn\u2019t fare so well, with foreign stocks dropping (.10%) and emerging market […]<\/p>\n","protected":false},"author":3,"featured_media":645,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"post_statement":"","post_description":"","post_cta":"","post_button":"Read More","post_button_url":"","compliance_id":"","post_disclaimer":"","footnotes":""},"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/643"}],"collection":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/comments?post=643"}],"version-history":[{"count":0,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/posts\/643\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media\/645"}],"wp:attachment":[{"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/media?parent=643"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/categories?post=643"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.retirementrefined.com\/wp-json\/wp\/v2\/tags?post=643"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}