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2 November, 2026
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US equities fell over the week as results from major tech companies, including Alphabet and Amazon, revived concerns over the returns on surging capital expenditure. US data remained resilient this week. The Federal Reserve held rates at 3.75–4.00%, maintaining a cautious stance, while Q3 GDP grew 3.4% annualised, up from 2.2% in Q2. Core PCE inflation remained elevated at 3.1% YoY, while consumer confidence rose to 91.7, beating expectations.
Elsewhere, the ECB held rates unchanged at 2.50%, highlighting elevated inflation and growth uncertainty. The UK’s Autumn Forecast Statement upgraded 2026 growth to 1.2%, while the Bank of Japan held rates at 1.25% but signalled that further hikes remain likely.
Looking ahead, attention turns to the US jobs report, ISM surveys and JOLTS, alongside inflation data in the Eurozone and UK. Central bank decisions from the Bank of England, RBA, Brazil and Mexico will also be in focus, while China’s PMIs will provide an update on growth momentum.
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