Meanwhile, a record 85% of S&P 500 companies have beaten profit forecasts this quarter, marking the strongest earnings season since 2021. Each week, the Syz investment team takes you through the last seven days in seven charts.

Global equity markets advanced despite volatility from U.S.–China trade headlines and a spike in oil prices following sanctions on Russia’s top oil firms. In the US, Small- and mid-caps outperformed large caps, with technology and energy sectors leading gains while utilities and consumer staples lagged. The ongoing government shutdown delayed several economic reports, but September inflation data was released late. Headline inflation rose slightly to 3.0%, just below expectations, while core inflation held steady at 3.0%. S&P Global’s preliminary PMI readings showed business activity strengthening in October. U.S. Treasury yields fluctuated: short-term (1–3 year) yields rose, while the 10-year yield declined.

Flash note

Flash note

Government bonds rallied last week, credit markets shrugged off concerns around U.S. regional banks and EM markets rebounded

Global equity markets posted positive yet volatile performance during the week

Silver’s rising, who are its top producers and AI is writing faster than humans! Each week, the Syz investment team takes you through the last seven days in seven charts.

U.S. stocks rose for the week, recovering from the previous Friday’s steep sell-off, the S&P 500’s worst day since April. The rebound came amid easing U.S.-China trade tensions, dovish comments from Federal Reserve officials, and optimism from new deals in the artificial intelligence sector. The start of Q3 earnings season further boosted sentiment, as major banks like JPMorgan Chase, Citigroup, and Wells Fargo all beat expectations. By Friday, 12% of S&P 500 companies had reported, with 86% exceeding earnings forecasts, according to FactSet. However, gains were partly reversed on Thursday after two regional banks revealed loan issues linked to alleged fraud, reigniting concerns about credit risks and the health of smaller lenders.

Flash note

Flash note