US equity markets, as measured by the S&P 500 index, were fairly flat (down 0.6%) again for a third straight week as the flow of economic data was relatively light. This week, investors will receive the September employment report on Friday, which will provide a glimpse into the pace of rehiring as the economic impact from the COVID-19 pandemic continues to impact the US. The chart below highlights weekly continuing claims for unemployment insurance benefits, which at their peak in May, were nearly four times larger than the prior peak set during the 2008-2009 global financial crisis. As of the most recent week (September 12), continuing claims were filed by 12.6 million Americans, which is still nearly double that of the worst week during the financial crisis.
The first Presidential debate will take place on Tuesday evening, kicking off the final stage of the race for the White House over the next few weeks. Third quarter earnings season will also begin the following week, so October has the potential to be an eventful month for markets.
Key Economic Releases This Week
Asset Class Returns
Prices & Interest Rates
 Source: Morningstar
Past performance may not be representative of future results. All investments are subject to loss. Forecasts regarding the market or economy are subject to a wide range of possible outcomes. The views presented in this market update may prove to be inaccurate for a variety of factors. These views are as of the date listed above and are subject to change based on changes in fundamental economic or market-related data. Please contact your Financial Advisor in order to complete an updated risk assessment to ensure that your investment allocation is appropriate.