Weekly Market Snapshot

News Last Week

  • Monday: Columbus Day
  • Tuesday: The benchmark 10-year Treasury yield rose to over 3.26% Tuesday morning, a 7-year high.
  • Tuesday the International Monetary Fund cut its global growth forecast. The fund cited trade tensions, growing levels of debt in emerging markets and rising interest rates in the U.S. as reasons for concern.
View More View Less
  • Wednesday the Department of Justice gave preliminary approval for CVS’ $69 billion merger with Aetna.
  • Wednesday saw the Dow Jones Industrial Average drop 3.2% and S&P 500 index drop 3.3%. The Nasdaq Composite Index fell 4.1%. Analysts blamed rising rates and profit-taking in stocks such as Amazon and Netflix that have had huge year-to-date returns.
  • Thursday saw major stock indices fall sharply again, The Nasdaq Composite Index dipped into correction territory with a drop of over 10% from the most recent 52-week high.
  • Friday JPMorgan Chase reported better-than-expected earnings. Citigroup and Wells Fargo also reported, with mixed results and an earnings-miss respectively.
  • Tech stocks rallied Friday with Netflix and Amazon leading. AMD and Nividia were also sharply higher
  • Tuesday: The National Federation of Independent Business Optimism Index for September fell 0.9 to a seasonally-adjusted 107.9. This was the third-highest reading on record after August’s all-time high in the 45-year history of the index.
  • Wednesday: The Producer Price Index for September rose by 0.2% or 2.6% year-on-year.
  • Thursday: The Consumer Price Index (CPI) for September rose by 0.1%, lower than expected. Core CPI also rose by 0.1%, for a year-over-year gain of 2.2%.
  • Friday: The Consumer Sentiment Index reading for October was 99, just below expectations. Confidence in government economic policies rose to the highest level in 15 years.

News Next Week

  • Monday: Retails Sales for September at 8:30 AM.
  • Tuesday: Industrial Production for September at 9:15 AM.
  • Wednesday: Housing Starts for September at 8:30 AM.
View More View Less
  • Wednesday: FOMC minutes for 9/25-26 meeting at 2:00 PM.
  • Thursday: Philly Fed Manufacturing for October at 8:30 AM.
  • Friday: Existing Home Sales for September at 10:00 AM.

Featured Chart

active management has added value in taxable fixed income

10/16/2018

Active management has added value in taxable fixed income

Active managers across many fixed income categories have provided investors with index-beating returns. This is most apparent in the multi-sector bond category, where 89%...

Read More

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.

You are now leaving the BMO Global Asset Management web site:

The link you have selected is located on another web site. Please click OK below to leave the BMO Global Asset Management site and proceed to the selected site. BMO Global Asset Management takes no responsibility for the accuracy or factual correctness of any information posted to third party web sites.

Thank you for your interest in BMO Global Asset Management.