Market Commentary · updated every Saturday
Markets at a Glance
The numbers that moved markets this week, on one page: stock and bond returns, interest rates, oil, inflation and the Federal Reserve. Bookmark it and check back each weekend.
Returns
How markets performed
| Index | Last Week | YTD 2026 |
|---|---|---|
| MSCI ACWI IMI | -0.2% | +11.2% |
| MSCI ACWI | -0.3% | +11.2% |
| Russell 3000 | -0.5% | +11.7% |
| S&P 500 | -0.6% | +11.8% |
| Russell 1000 Value | +0.5% | +24.5% |
| Russell 1000 Growth | -1.7% | -0.2% |
| Russell Midcap | +0.5% | +15.4% |
| Russell Midcap Value | +1.0% | +22.0% |
| Russell Midcap Growth | -0.8% | -3.4% |
| Russell 2000 | +1.3% | +14.4% |
| Russell 2000 Value | +0.7% | +19.9% |
| Russell 2000 Growth | +1.9% | +9.3% |
| MSCI EAFE | +0.9% | +9.5% |
| MSCI Emerging Markets | -0.7% | +13.5% |
| S&P 1500 Real Estate (Sector) | +1.4% | +10.5% |
| Index | Last Week | YTD 2026 |
|---|---|---|
| Bloomberg US Treasury Bills 1-3 Month | +0.1% | +3.1% |
| Bloomberg US Government/Credit 1-3 Year | +0.3% | +1.5% |
| Bloomberg US Aggregate | +0.6% | -0.5% |
| Bloomberg Municipal 1-15 Year | +0.7% | -0.2% |
| Bloomberg Municipal Bond High Yield | +0.3% | +1.8% |
| Bloomberg US TIPS (Series-L) | +0.5% | +0.4% |
| Bloomberg Global Aggregate | +0.3% | -1.3% |
| Bloomberg US Corporate High Yield | +0.5% | +0.4% |
| ICE US Treasury 20+ Year Index | +0.7% | -2.8% |
| S&P/TSX North American Preferred Stock Index | -1.1% | +1.4% |
| Bitcoin | -4.3% | -12.3% |
| Invesco DB US Dollar Index Bullish Fund | +0.1% | +7.3% |
| SPDR Gold Shares | -3.0% | -10.2% |
Bitcoin weekly return from Bloomberg closing levels of $77,838.81 on October 30, 2026 and $81,328.21 on October 23, 2026. Bitcoin year-to-date return calculated by Vistamark from the October 30, 2026 close and the January 1, 2026 reference price of $88,722. All other figures are total returns through the October 30, 2026 close, sourced from Vistamark Bloomberg internal data systems.
Calendar
The week ahead
Tuesday, November 3: Midterm elections. Results may take time in close races. History suggests the resolution of uncertainty, rather than the outcome, has mattered more to markets.
Friday, November 6: October jobs report. September added just 29,000 jobs. With December rate-hike odds near 72% per the CME FedWatch Tool, a strong report would reinforce the case for another increase, and a weak one would complicate it.
Monday through Wednesday: ISM survey and Treasury refunding. The ISM manufacturing survey opens the week, and the Treasury's quarterly refunding announcement will show how much long-term debt the government plans to sell, a key input for bond yields.
Iran talks, oil, and the AI trade. Whether the two-day Hormuz plan gains traction after the election, any change in the U.S. posture toward Iran, and the market's continuing reassessment of AI spending will shape the weeks ahead.
This week’s analysis
October 30, 2026
The largest technology companies reported strong growth this week, and investors focused on what it cost to achieve. Alphabet's revenue rose 25% and its cloud business more than doubled, but heavy spending on AI pushed its free cash flow negative and its shares fell about 13%.
Market Compass · weekly
Get the Compass by email
One concise recap of the week’s market-moving events and what to watch next, written by our CIO at the end of each market week.
About this page
Questions about these numbers
How often is this page updated?
Every Saturday morning, with Friday’s closing figures, when the weekly Market Compass is published. The figures on this page are for the week ended October 30, 2026.
Where do the numbers come from?
Index returns come from Vistamark’s Bloomberg data or, when noted in the fine print, from exchange-traded fund prices. Rates and inflation come from the Federal Reserve, the U.S. Treasury and the Bureau of Economic Analysis, and rate-hike odds come from the CME FedWatch Tool. Each week’s sources are listed in that week’s Market Compass.
How did the stock market do this week?
In the week ended October 30, 2026, the S&P 500 returned -0.6% and is +11.8% for the year, and the Russell 2000 index of small companies returned +1.3% and is +14.4% for the year.
Can I see earlier weeks?
Yes. Every past Market Compass, with that week’s tables, is in the Market Compass archive.
This page is for informational and educational purposes only and does not constitute investment, legal or tax advice, or an offer or solicitation to buy or sell any security. Index returns do not reflect fees or expenses, and an investor cannot invest directly in an index. Past performance is not indicative of future results. See our disclosures.