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S&P 500 Continues Strong Amid U.S.-China Trade Deal Expected This Week
Welcome to this week’s Market Commentary with RFG Advisory’s Chief Investment Officer, Rick Wedell!
In this episode, Rick breaks down the key themes driving the market right now:
The S&P 500 continues its strong 2025 performance, up nearly 17% year-to-date.
This week, all eyes are on a potential U.S.–China trade deal that may be signed on October 30th, a major development between the world’s two largest economies.
Inflation data came in softer than expected, reinforcing expectations for a 25-basis point rate cut from the Fed later this week. While still above target, the slowdown in core inflation is giving the Fed more room to act amid a tight labor market and ongoing government shutdown.
Meanwhile, Q3 earnings season is off to an impressive start. Roughly 30% of S&P 500 companies have reported so far, with earnings and revenues coming in well above expectations. Nearly 44% of the index is set to report by week’s end.
But not all the signals are green. Consumer confidence has been weakening, and with the Bureau of Labor Statistics offline due to the shutdown, investors are looking to alternative indicators — like the labor market differential — to assess job sentiment and economic momentum.
Rick walks through what this all means for investors and what to keep an eye on in the week ahead.