November 2, 2015
The S&P 500 gained +0.2% last week and the clear focus was on the FOMC meeting. Despite falling four out of five trading sessions, the S&P 500 jumped higher on Wednesday after the Fed held benchmark rates, but suggested a possible rate hike in December.
The next several weeks will see the last companies report earnings for Q3 2015. Results have been coming in better than expectations. Earnings are expected to decline -1.0% (+5.0% ex-Energy & Materials) over Q3 2014 with 72% beating and a +6% surprise factor.
Congrats to the Kansas City Royals for winning their first World Series in 30 years. USC and UCLA continue to squeak out conference wins and still hold out hope for a Pac-12 South title. Chargers’, Rams’ and Raiders’ fans were given a few hours each to make their case to the NFL why their respective franchises should stay put. I can’t think of a bigger waste of time for obvious window dressing by the NFL.