Market Thoughts October 2023

Brad McMillan, Commonwealth’s CIO, recaps September’s market and economic news. U.S. indices were down for the second consecutive month, with the Nasdaq doing the worst. International markets pulled back, and fixed income was also down. That said, job growth remained healthy, consumer confidence and spending grew, and business investment came in strong. And while the political worries are settled for the moment, the interest rate problem remains. Will the Fed’s hike cycle end soon? Stay tuned to find out. Follow Brad at blog.commonwealth.com/independent-market-observer.