Throughout October, US markets rallied on the back of several positive news pieces starting with companies beating sales and earnings estimates (around 80% beat rate).

Joe Biden recently outlined an adjusted social spending program (education, environment, and health bill) valued at $1.85 Trillion of aid, which is approximately a half of the originally proposed bill.

The US unemployment rate fell to 4.8%, likewise, coronavirus cases began to close as the vaccinations rose.

The US economic recovery appears to be stable as it reaches full employment, as mentioned in previous commentaries, eyes are turned to inflationary figures as the Federal Reserve looks to announce the start of tapering in November, with plans of bond purchasing to cease early Q3 2022.

US Major indicesOctober performance
NASDAQ 1005.87%
S&P 5004.46%
Dow Jones Industrial Average3.13%
Data provided by FE fundinfo 2021

US sectorsOctober performance
Real Estate4.29%
Health Care3.04%
Consumer staples1.97%
Data provided by FE fundinfo 2021