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Market Watch Weekly | October 15, 2021 | Don't be Scared. Life's just a Game. A Squid Game...

Erik Dekker - Oct 15, 2021
Equity markets rebounded this week following September's fall and the first 5% pullback in about a year. North American benchmarks were moving higher amidst a volatile week of trading that saw stronger than expected earnings momentum.

Equity markets rebounded this week following September's fall and the first 5% pullback in about a year. North American benchmarks were moving higher amidst a volatile week of trading that saw stronger than expected earnings momentum. U.S. financials were first to report third-quarter results that beat significantly on the top and bottom line with financial heavyweights JPMorgan, Goldman Sachs, Bank of America, Morgan Stanley and Citigroup among the firms topping expectations. We also saw U.S. retail sales post a surprise increase in September, rising 0.7%, easily toping the expectations a 0.2% decline. The retail beat flies in the face of inflation and supply chain concerns which have not yet put a strong dent in retail sales. Consumers are acclimating to higher prices, which hasn’t resulted in a meaningful fall off in demand.

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