Weekly Market Update – October 27, 2025

Price Return Last Week

S&P 500 +1.9%   S&P Mid Cap  +2.3%     Russell 2000  +2.5%   

MSCI EAFE  +1.2%       MSCI EM +2.0%   

10 Yr US Treasury Rate – fell from 4.01% to 4.00%

Source: Refinitiv Eikon

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Recent News

Core CPI – Sep: 0.2% (Reuters Poll est. 0.3%) Aug: 0.3%

The CPI report was released over a week late due to delays resulting from the government shutdown. It was determined that the report should be completed as it is required to calculate cost-of-living increases for Social Security payments.  The data showed core inflation rising slightly less than expected although annual core inflation was reported at 3.0%, still above the Federal Reserve’s target of 2.0%.  The White House stated after the release that there will likely be no inflation data release in November due to the government shutdown.

Source: Refinitiv Eikon, The Wall Street Journal

Social Security Boost – Benefits for Social Security recipients will increase by 2.8% in 2026, slightly above the increase of 2.5% in 2025.  As a result, the average monthly check for Social Security recipients in 2026 will be $2,064.

Source: The Wall Street Journal

Trump Ends Trade Talks with Canada – In response to an ad from the Canadian province of Ontario showing President Reagan criticizing tariffs, President Trump stated that he is ending all trade negotiations with Canada.  In the ad, Reagan remarks that while tariffs can look patriotic, “over the long run such trade barriers hurt every American worker and consumer.”  The U.S. and Canada had been in discussions about how to lower the 50% tariffs on Canadian aluminum and steel, but no agreement had been reached.

Source: The Wall Street Journal

Illinois Receives Credit Upgrade – Moody’s Ratings gave the state of Illinois a one-notch upgrade to its debt, moving their rating to A2 from A3.  The upgrade represents Illinois’ 10^th rating increase since Governor JB Pritzker took office in 2019.  Moody’s noted that improving reserves and finances for the state led to the upgrade.

Source: Piper Sandler

You’ve Been Eating Trash – For over 50 years, the Red Delicious apple has been the top produced apple in the United States.  However, if it’s up to writer Brian Frange that will change.  Frange maintains the website applerankings.com with the slogan “You’ve been eating trash,” to highlight the dozens of varietals that he believes are superior to the Red Delicious. The top spot on his list goes to the SweeTango apple with the newly popular Honeycrisp apple just behind it.

Source: Food & Wine, applerankings.com

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Upcoming Events

10/27 – Notable Earnings Reports: Cadence Design Systems, Nucor

10/28 – Consumer Confidence, Notable Earnings Reports: American Tower, DR Horton, Ecolab, Nextera Energy, UnitedHealth Group, United Parcel Service, PayPal, ONEOK, Booking, Visa, Expand Energy, Mondelez

10/29 – Fed Meeting, Notable Earnings Reports: Caterpillar, Masco, ADP, Boeing, Verizon, Cognizant Technology, Fiserv, CVS Health, Kraft Heinz, Fortive, GE Healthcare, Chipotle, Equinix, Microsoft, Starbucks, Meta, ServiceNow, Alphabet, eBay, KLA

10/30 – GDP, Notable Earnings Reports: Bristol-Myers Squibb, Comcast, L3Harris, Intercontinental Exchange, Eli Lilly, Mastercard, Merck, Aptiv, Apple, Amazon, First Solar, Gilead Sciences, VICI Properties, Stryker

10/31 – PCE, Notable Earnings Reports: Linde, Aon, Exxon Mobil, Chevron, Colgate-Palmolive, Berkshire Hathaway, Abbvie

Source: Refinitiv Eikon