Even with the strong up day on Friday, the S&P 500 fell over 2% last week. Most bonds were slightly in the red last week as well as interest rates moved higher. What did work were broad-based commodities as inflation readings remain elevated thanks in part to supply chain bottlenecks.
So, when might this sell-off in stocks be over? It’s hard to say, but as we start the month of October let’s keep an eye on the employment report which gets released this Friday. Let’s also continue to monitor the inflation numbers this month and how interest rates respond. In addition, let’s see how stocks behave following options expiration on October 15th and finally let’s see how the economic data and company earnings come in relative to market expectations.
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