MARKET CAP

• US stocks -1.16%, international -0.74%, bonds -0.57%.
• US stocks were down in October by 0.75%, the first monthly loss since April.
• Q3 GDP came in at 2.8% for the first read.
• Payrolls were up only 12k compared to an estimated 100k, but the hurricanes and the strikes probably had an impact. The unemployment rate remained 4.1%. JOLTS openings continue to decline, now at 7.4 million, the lowest since the beginning of 2021.
• ISM Manufacturing of 46.5 was the lowest since June of 2023.

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