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Inventory Market Outlook getting into the Week of November 2nd = Uptrend
ANALYSIS
The inventory market outlook reveals an uptrend for U.S. equities.
The S&P500 ( $SPX ) rose 0.7% final week. The index sits ~3% above the 50-day transferring common and ~12% above the 200-day transferring common.
All three indicators present bullish worth motion. The index noticed elevated promoting on Thursday and Friday, however neither session met the standards for a distribution day.
SPX Worth & Quantity Chart for Nov 02 2025
PERFORMANCE COMPARISONS
The Tech sector ( $XLK ) led shares increased once more, whereas Actual Property ( $XLRE ) underperformed, together with Supplies and Shopper Staples ( $XLB & $XLP ).
Financials and Actual Property ( $XLF, $XLRE ) fell to bearish bias; Communications ( $XLC ) eased to impartial after rising virtually 18% because it shifted to bullish again in Could.
S&P Sector Efficiency from Week 44 of 2025
Giant and Mega Cap Progress ( $IWF & $OEF ) outperformed, whereas Excessive Dividend, Low Beta, Small and Midcap Worth ( $SPHD, $SPLV, $IWN, $IJJ ) underperformed considerably.
Mid Cap Progress and Worth ( $IJH, $IJJ ) had been on the transfer once more this week; Mid Cap Progress slowed again to Impartial and Mid Cap Worth fell to Bearish bias.
Sector Fashion Efficiency from Week 44 of 2025
The U.S. Greenback ( $DXY ) was the perfect asset final week, in order that was headwind for the opposite lessons ( Gold struggled probably the most ). Bonds went again to Impartial bias.
Asset Class Efficiency from Week 44 2025
COMMENTARY
The FOMC determined to decrease rates of interest 0.25% final week. Given the shortage of presidency knowledge, there was a really small likelihood of no change, however the variety of latest layoff bulletins most likely spooked them sufficient to do one thing.
5 of the Magnificent 7 have reported earnings final week, and Amazon ( $AMZN ) stole the present, by way of worth efficiency, gaping up ~12%. Alphabet ( $GOOGL ) additionally carried out nicely, whereas Apple’s inventory worth didn’t reply a lot. Microsoft ( $MSFT ) didn’t far as nicely, reversing the constructive, post-earnings transfer by the tip of the week, and Meta ( $META ) was punished after the corporate introduced plans for $100 billion in AI investments for 2026.
The U.S. and China reached a commerce deal over the weekend, which is able to take away most of the latest commerce obstacles the 2 nations enacted. The deal ought to scale back provide chain points for a variety of industries, together with semiconductors, uncommon earth supplies, agriculture. Anticipate to see some volatility in Sunday futures … very similar to prior trade-deal headlines that occurred whereas markets had been closed.
Wanting forward, ISM Manufacturing and Companies PMI knowledge is launched Monday and Wednesday, respectively. Because it’s unlikely we’ll see any authorities knowledge releases, consideration shifts to personal sector reporting, particularly ADP Employment Change on Wednesday, and Challenger Job cuts on Thursday.
Finest to Your Week!
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Sources: Bloomberg, CNBC, Federal Reserve Financial institution of St. Louis, Hedgeye, Stockcharts.com, TradingEconomics.com, U.S. Bureau of Financial Evaluation, U.S. Bureau of Labor Statistics, TradingEconomics.com
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