Market Pulse

Oct 24

  IndexLast Week1-Month (Trailing)YTD
DJIA
      +0.41%
      +2.57%
      +8.64%
S&P 500
      -0.47%
      -0.36%
      +11.37%
Nasdaq
      -0.71%
      -3.37%
      +11.67%
Russell 2000
      +2.00%
      -0.66%
      +11.85%
MSCI EAFE
      -1.52%
      -1.80%
      +9.00%
MSCI EM
      -2.10%
      -8.25%
      +14.89%
Bloomberg U.S. Agg
      +0.60%
      +1.30%
      -1.04%
Bloomberg U.S. Corp HY
      +0.20%
      -0.60%
      +0.21%
Data as of: Friday, October 23, 2026

See important disclosures below.

Weekly Recap

10/19/2026 - 10/23/2026

U.S. Economy

October manufacturing PMI reached 56.0, exceeding expectations.

Consumer sentiment improved, but inflation expectations increased.

Equity Market

S&P 500 and Nasdaq posted modest weekly declines.

Energy outperformed as technology stabilized amid AI concerns.

Bond Market

Treasury yields rose following Thursday's strong bond rally.

10-year Treasury yield climbed to 5.00%.

Around the Globe

WTI crude surpassed $100, extending its weekly winning streak.

Gold declined 1.2% as the dollar strengthened.

The Week Ahead…

10/26/2026 - 10/30/2026

Mon

```
Dallas Fed Manufacturing (Oct)
```

Earnings: Verizon, Nucor, Whirlpool, Cadence

Tue

```
Durable Goods Orders, New Home Sales
```
```
Consumer Confidence (Oct)
```

Earnings: Boeing, Coca-Cola, PayPal, Visa

Wed

```
FOMC Interest Rate Decision
```
```
Wholesale Inventories (Sep)
```

Earnings: Alphabet, Microsoft, Boston Scientific

Thu

```
GDP (Q3)
```

Core PCE, Personal Income/Spending (Sep)

```
Earnings: Amazon, Mastercard, Eli Lilly
```

Fri

```
Employment Cost Index (Q3)
```
```
Chicago PMI (Oct)
```
```
Earnings: Exxon Mobil, Chevron, AbbVie
```

Investors face a pivotal week as the Federal Reserve's October policy meeting takes center stage. Policymakers are widely expected to hold interest rates steady on Wednesday, with investors closely watching Chair Warsh's commentary for signals about potential tightening in December. Thursday's GDP and PCE inflation reports will provide additional insight into economic growth and persistent price pressures.

Corporate earnings accelerate, with several Magnificent Seven companies reporting results. Alphabet, Microsoft, and Amazon will offer important updates on artificial intelligence investment, cloud demand, and profitability. Reports from Boeing, Coca-Cola, Visa, Mastercard, and major pharmaceutical companies will provide additional insight into consumer and corporate spending.

Internationally, central bank decisions from the European Central Bank and Bank of Japan will draw attention alongside Israel's elections. With oil prices climbing above $100 per barrel amid ongoing U.S.-Iran tensions, investors will also assess how renewed energy inflation could influence monetary policy and global market sentiment.

-Matt Shaw, CFA

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This report and the opinions provided herein are for informational purposes only, are not a solicitation, and should not be considered investment advice or a recommendation to buy, sell, or hold any particular security or investment. All opinions expressed herein constitute the author’s judgement as of the date of this document and are subject to change without notice. Statements made are not facts, including statements regarding trends, market conditions and the experience or expertise of author are based on current expectations, estimates, opinions and/or beliefs. Such statements are not facts and involve known and unknown risks, uncertainties and other factors. Past events and trends do not predict or guarantee or indicate future events or results. Information cited in this report has been drawn from sources believed to be reliable and was captured at a point in time. Therefore, the data is subject to change and its accuracy is not guaranteed. DJIA, S&P, Russell 2000, and NASDAQ indices are referenced directly; MSCI EAFE, MSCI EM, BB U.S. Aggregate, Bloomberg U.S. Corp. HY, and all sector figures refer to the respective ETFs as a representative figure. Ategenos Capital, LLC d/b/a AC Wealth Partners does not own or control and is not affiliated with any third-party content provided via hyperlink, quoted, or cited herein. Investors seeking more information should contact their financial advisor. Investing involves risk, including the possible loss of principal. It is not possible to invest directly in an index. Past performance does not guarantee future results. AC Wealth Partners is an investment adviser registered with the SEC. SEC registration does not imply any specific level of training or skill.

Matt Shaw