MARKETS AND INVESTING
October 08, 2021
Review the latest Weekly Headings by CIO Larry Adam.
The fall season began a few weeks ago, and while the leaves and temperatures may be shifting in parts of the country, market volatility has still been bringing the heat. The growing list of concerns—Delta-induced slowing economic momentum, China’s Evergrande default possibilities, surging energy prices, and DC brinkmanship—stoked the first S&P 500 5%+ pullback since October of last year. This pullback was not a surprise as volatility tends to seasonally increase during the September to early October time frame. We cautioned investors not to cool on the equity market as we expected the pullback to be short-lived. This week, we saw a few of these lingering near-term risks turn over a new leaf, and with the big banks set to kick off the unofficial start of the third quarter earnings season next week, the equity market may experience its own change of season as we go into the end of the year.
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