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Continued Economic Improvement Ahead?


After a difficult September, the markets bounced back in October. Here in the U.S., the Nasdaq

and the S&P 500 gained more than 7 percent, and the Dow went up almost 6 percent. Further, developed markets gained almost 2.5 percent, and emerging markets had a small rise of 1 percent. Although stocks did well, bonds had another bad month, dropping slightly as interest rates rose.

So, what drove these results—and where do we go from here?

Data Improved in October

Economic damage passing. After the weakness seen in September, some key economic data improved. Job growth bounced back sharply, as shown in the October employment report, and layoffs continued to drop. Consumer confidence showed signs of stabilizing, and business confidence and investment remained high. So, while the economic damage from the Delta variant is real, it seems to be…

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