Market Commentary - October 2025
Stock Market Trends
Global stocks did well in September, with international markets slightly outperforming U.S. markets.
Big tech and communication companies led the way, bouncing back strongly.
Consumer staples, materials, and energy lagged behind due to slower growth and cost pressures.
Growth stocks (companies expected to expand faster) continued to beat value stocks (companies seen as undervalued).
Bonds & Interest Rates
U.S. bonds gained ground, especially investment‑grade corporate bonds (high‑quality company debt).
Even though the extra reward (“spread”) for holding corporate bonds is historically low, yields are still attractive compared to cash.
Why? Falling short‑term interest rates are making money market funds less appealing, so investors are moving into bonds.
The economy is still growing, inflation is easing, and companies remain financially healthy — all of which support bond markets.
Emerging Markets
Emerging markets (EM) like Latin America and Asia have been strong performers.
A weaker U.S. dollar has boosted EM stocks, since local currencies are worth more and attract more investment.
Historically, periods of dollar weakness have lined up with strong EM returns.
Outlook
Despite political gridlock and concerns like government shutdowns, markets remain resilient.
Growth is steady, financial conditions are easier, and company fundamentals are strong.
Risks remain, but the overall view is optimistic, with momentum and sentiment pointing higher.
✅ Key Takeaway for Investors:
Stay diversified. Technology and emerging markets are showing strength, bonds remain attractive versus cash, and gold provides a safety net. While risks exist, the overall environment continues to support growth.
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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