Market Notebook

by Cory Haupt | Nov 3, 2025

PRICE ACTION:
Equity prices, as measured by the ticker SPY, closed higher on the week while bond prices, as measured by the ticker BND, closed lower over the last week.

SPY +0.71%
BND -0.59%

TECHNICAL ANALYSIS:
SPY price appears to be trending upwards.

BND price appears to be trending upwards.

SENTIMENT:
Commentary by the Federal Reserve suggesting future rate cuts are not guaranteed gave bond investors pause, with prices declining and yields rising.

U.S. equities continued to churn higher on decent earnings in the tech sector.

ECONOMY AND FUNDAMENTALS:
Economic fundamentals remain positive, with data suggesting the U.S. economy remains resilient. The Federal Reserve appears to be acting appropriately with two goals in mind: to keep inflation under control and support real economic activity.

All the best during the week ahead!

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