- The Federal Reserve cut rates another .25% last Wednesday as most of the market expected. Because they signaled a pause in the easing cycle, the markets had a muted response initially, but later rallied after the press conference. https://www.reuters.com/article/us-usa-fed/u-s-fed-cuts-rates-but-signals-pause-in-easing-cycle-idUSKBN1X90D7
- End of the week stocks rallied on another strong jobs report, adding 128,000 jobs in October. With the consumer being a primary driver of the economy, strong employment may lead to continued expansion. Strong Q3 earnings reports are also assisting the move in the equities market. According to FactSet, about 70% of S&P 500 companies posted quarterly results so far and of those reports, 75% have beaten expectations. Companies set a low bar this quarter, but it’s never a bad thing when the numbers are better-than-feared. https://www.bloomberg.com/news/articles/2019-10-31/stocks-in-asia-to-drop-on-trade-war-economic-data-markets-wrap?srnd=premium
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