Economic Insights - October 2023

Xillion brings you Economic Insights for October 2023 to navigate the ever-evolving economy. This analysis sheds light on key economic indicators impacting various sectors. It's your window into the financial pulse of today's world.

In October, broad market indices dipped. Dow Jones decreased by 1.4%, the S&P 500 by 2.2%, the NASDAQ Composite by 2.8%, and the Russel 2000 saw the most decline at 6.9%.

Most sectoral indices dropped. Energy fell the most at -6.1%, followed by Consumer Discretionary at -4.5%. Only Utilities saw a gain, rising by 1.2%.

In October, Natural Gas soared with a 22.1% increase, making it the top performer. Gold also shined bright, rising by 7.4%, and Silver went up by 2.7%. However, Crude Oil slipped by 10.8%, and Copper dipped by 2.3%.

Inflation remained steady at 3.7% in September 2023, defying market expectations of a slight decrease to 3.6%, whereas the Core CPI, which excludes volatile items such as food and energy, fell to 4.1% in September 2023, the lowest since September 2021.

Household Saving Rate in the United States decreased to 3.40% in September from 4% in August of 2023 whereas Real Disposable Personal Income grew 3% over the last year.

In October, the average rate for a 30-year fixed mortgage surged to 7.8%, marking its highest level since November 2000. Additionally, the S&P Case Shiller Home Price Index, which tracks US housing prices, reached an all-time high of 309.4.

In October, the 10-year treasury yield rose to 4.9%, the highest since July 2007.

In September, the consumer sentiment index, based on a survey by the University of Michigan, fell to 67.9 from 69.5 in August. Meanwhile, Industrial Production rose by 0.08% in September 2023 compared to the same month the previous year.

As we gear up for the final months of the year, it's clear that both opportunities and hurdles lie ahead. How do all the economic changes impact your investments and your financial future? Login to Xillion to find out!