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 indices||October performance|
|MSCI USA IMI||4.17%|
|Dow Jones Industrial Average||3.13%|
|US sectors||October performance|