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October 2017 Market Update

By November 10, 2017No Comments


U.S. stocks again climbed to new highs in October, outperforming all other asset classes

  • 75% of the S&P 500’s return came from the Technology sector

The S&P 500 finished the month with a gain of +2.4%, putting the index up +16.7% year-to-date

  • Top Sectors: Technology (+7.8%), Utilities (+3.9%)
  • Bottom Sectors: Telecommunications (-7.6%), Consumer Staples (-1.4%)

Large Cap Growth outperformed Value in October by 3.2%

  • Growth now leads Value by 16.7% on the year, the widest margin since 2009

Large Cap stocks continued to outperform Small Cap stocks on the month, leading by 1.6%

International developed countries underperformed U.S stocks by 0.7% due to a strengthening of the dollar

Emerging markets continue to outperform all other asset classes year-to-date, rising 3.3% on the month

Long-Term Treasury yields were relatively unchanged in October, which lead to flat returns for this asset class


The economy created 261,000 jobs in October, coming in below expectations

  • However, the unemployment rate dropped to 4.1%, the lowest level since late 2000

The quarterly change in U.S. Output Per Hour, a measure of worker productivity, increased by 3.0%

With inflation and the number of new jobs continuing in the right direction, market expectations of another rate hike at the Federal Reserve’s December meeting have risen to 100%**
Asset Performance

*Merrill Lynch**Bloomberg. Charts are shown for illustrative purposes only. Respective services provided by ARGI Investment Services, LLC, a Registered Investment Adviser, ARGI CPAs and Advisors, PLLC, ARGI Business Services, LLC, and Advisor Insurance Solutions. All are affiliates of ARGI Financial Group.