As the U.S. election approaches tomorrow, history shows little long-term S&P 500 impact from election outcomes, while global economic forces like SNB profits and ChatGPT’s energy demands drive market dynamics. Each week, the Syz investment team takes you through the last seven days in seven charts.
The Nasdaq Composite reached record intraday highs on Wednesday before falling back sharply on Thursday. Over the week, growth stocks generally lagged value shares. Small-caps also held up much better than large-caps. 42% of the companies in the S&P 500 Index reported their Q3 earnings over the week, including five of the Mag 7. Microsoft and Apple were the biggest losers of the week whereas Amazon and Google gained. On the macro side, the Labor Department reported “essentially unchanged” nonfarm payrolls over the month, with employers adding only 12,000 jobs—the lowest number since December 2020. It included a decline of 44,000 jobs due to the Boeing strike.
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As the U.S. election approaches tomorrow, history shows little long-term S&P 500 impact from election outcomes, while global economic forces like SNB profits and ChatGPT’s energy demands drive market dynamics. Each week, the Syz investment team takes you through the last seven days in seven charts.
In October, fixed income assets faced significant challenges, with the Global Aggregate Bond Index declining over 3%. As the U.S. elections approach, this week is poised to be crucial in determining the future trajectory of the fixed income market.
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