Market Commentary - November 2025
Market Overview & Fed Policy
Global Rally: Equities around the world have surged, making international diversification more appealing.
Tariff Relief: New trade deals have eased concerns about tariffs hurting growth.
Inflation Update: Core CPI rose 3% in September, slightly below expectations.
Fed Signals Caution: Despite a rate cut in October, Chair Powell’s comments suggest future cuts aren’t guaranteed.
Bond Market Moves: Treasury yields rose, indicating investor uncertainty about inflation and growth.
Rate Cut Odds: Markets currently expect a 66% chance of another rate cut in December.
Technology Sector Performance
Tech Leads the Way: October saw strong earnings from Apple, Microsoft, Amazon, Alphabet, and Meta.
Cloud Momentum: Amazon’s cloud business grew 20% year-over-year, outpacing competitors in dollar terms.
AI Infrastructure Demand: Amazon signed a $38B deal with OpenAI to support ChatGPT, highlighting the race to expand computing capacity.
Digital Transformation: Businesses are rapidly adopting cloud and AI tools, fueling innovation and long-term growth.
✅ Key Takeaway for Investors:
Volatility Is Normal: Markets react quickly to news, but long-term trends remain strong.
Focus on Innovation: Companies investing in digital infrastructure are well-positioned for future growth.
Diversify Globally: Looking beyond U.S. markets can uncover new opportunities.
As always, our focus is on keeping your portfolio well‑positioned for both opportunities and challenges ahead. If you’d like to discuss how these updates affect your personal plan, please don’t hesitate to reach out.
Source: YCharts. Indices used – U.S. Stock: Russel 3000 TR, Global Stock Ex U.S.: MSCI ACWI Ex USA Net TR, U.S. Bond: Bloomberg US Aggregate, Global Bond: Bloomberg Global Aggregate, U.S. Real Estate: Dow Jones US Real Estate Index Total Return.
Source: YCharts. Sector performance is based off SPDR Sector ETFS
Source: YCharts. Sector performance is based off SPDR Sector ETFS
From the Investments Desk at MDL Wealth Management and Journey Strategic Wealth
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