November 2, 2026
The Market Marches On
Key Takeaways
U.S. stocks were mixed. The Technology sector saw an AI-related selloff, though still leaving all other sectors in a trail of dust over the course of the year. Small caps underperformed although they remain in the lead YTD over broad Large Cap indices. Bond investors got a reprieve with the 10-year Treasury dropping below 5%, as investors rotated into less risky assets.
Sticky inflation and elevated oil prices remain the order of the day, but the Fed held rates steady at 3.75% to 4.00%, noting a strong pace of economic activity and a desire to let previous policy actions work their way through the system.
