THE MARKETS (AS OF MARKET CLOSE OCTOBER 26, 2018)
The benchmark indexes suffered another sharp decline last week. Each of the indexes listed here lost value, led by the Global Dow. The S&P 500 and the Nasdaq could be nearing a correction (down more than 10% from recent peaks) following last week’s drop. Equally noteworthy is the fact that all of the year-to-date gains have essentially dissipated, with only the Nasdaq still ahead of last year’s closing value. Quarterly earnings season reached its busiest time, offering a mixed bag with some major corporations posting healthy gains, while other companies reported a slowdown in revenue. Business investment has waned, while oil prices pulled energy stocks down.