Week in ReviewNo. 47
Week in review: S&P 500 falls 0.5% for the week; oil jumps 7.1%
A look back at the week of October 19 across stocks, bonds, currencies and commodities — plus the economic calendar for the week ahead.
- S&P 5007,623.68▼ −0.47%
- Nasdaq25,955.34▼ −0.71%
- Dow52,215.16▲ +0.41%
- 10-yr yield5.00%▼ −9 bp
- EUR/USD$1.1193▼ −0.53%
- Gold$4,007.90▼ −4.14%
- WTI crude$103.27▲ +7.13%
- Bitcoin$81,027▼ −0.55%
Stocks
The S&P 500 fell 0.47% over the five sessions ended Friday, closing at 7,623.68 — its second consecutive weekly loss. Elsewhere, the Nasdaq Composite lost 0.71%, the Dow added 0.41%, and the small-cap Russell 2000 rose 2.00%. The week's best day for the S&P 500 was Wednesday (+0.58%); its worst was Thursday (−1.21%). For 2026, it is up 11.4%.
Rates
The 10-year Treasury yield fell 9 basis points on the week at 5.00%. The 2-year yield declined 5 basis points to 4.69%. The gap between the two stood at 31 basis points, with the curve upward-sloping.
Currencies and commodities
The euro lost 0.53% against the dollar for the week, to $1.1193, while the dollar fell 0.77% against the yen. In commodities, WTI crude rose 7.1% to $103.27 a barrel and gold lost 4.1% to $4,007.90 an ounce. Bitcoin fell 0.6% over the seven days to $81,027.
One month at a glance
S&P 500
7,623.68
−1.8% 1 mo
Nasdaq
25,955.34
−4.7% 1 mo
10-yr
5.00%
+4 bp 1 mo
Euro
$1.1193
−2.4% 1 mo
WTI crude oil
$103.27
+9.2% 1 mo
Gold
$4,007.90
−8.4% 1 mo
The week in numbers
| Instrument | Last | Week chg | Week % | ||
|---|---|---|---|---|---|
| Stocks | |||||
| S&P 500 | 7,623.68 | −35.76 | −0.47% | ||
| Nasdaq Composite | 25,955.34 | −184.69 | −0.71% | ||
| Dow Jones Industrial Average | 52,215.16 | +212.75 | +0.41% | ||
| Russell 2000 | 2,775.90 | +54.53 | +2.00% | ||
| Cboe Volatility Index | 19.45 | −0.54 | −2.70% | ||
| Treasury yields | |||||
| 3-month Treasury bill | 4.22% | −4 bp | — | ||
| 2-year Treasury | 4.69% | −5 bp | — | ||
| 5-year Treasury | 4.82% | −7 bp | — | ||
| 10-year Treasury | 5.00% | −9 bp | — | ||
| 30-year Treasury | 5.33% | −10 bp | — | ||
| Currencies | |||||
| Euro (EUR/USD) | $1.1193 | −0.0060 | −0.53% | ||
| Japanese yen (USD/JPY) | ¥156.80 | −1.22 | −0.77% | ||
| British pound (GBP/USD) | $1.3368 | +0.0033 | +0.25% | ||
| Chinese yuan (USD/CNY) | 6.6702 | −0.0160 | −0.24% | ||
| Canadian dollar (USD/CAD) | 1.3995 | −0.0166 | −1.17% | ||
| Swiss franc (USD/CHF) | 0.8244 | +0.0004 | +0.05% | ||
| Australian dollar (AUD/USD) | $0.7022 | +0.0064 | +0.91% | ||
| Mexican peso (USD/MXN) | 18.7823 | +0.3988 | +2.17% | ||
| Commodities | |||||
| WTI crude oil | $103.27 | — | +7.13% | ||
| Brent crude oil | $116.72 | — | +6.24% | ||
| Natural gas | $2.640 | — | −15.28% | ||
| Gold | $4,007.90 | — | −4.14% | ||
| Silver | $53.95 | — | −5.86% | ||
| Copper | $6.508 | — | −1.00% | ||
| Digital assets | |||||
| Bitcoin | $81,027 | −448 | −0.55% | ||
Weekly changes from the prior Friday's close. Yields in percent; changes in basis points (bp). Currencies are ECB reference rates. Commodities are front-month futures settlements.
The week ahead
- Wed Oct 282 p.m.Fed policy decisionFederal Reserve (FOMC)
- Thu Oct 298:30 a.m.GDP (advance estimate)Bureau of Economic Analysis
- Thu Oct 298:30 a.m.Personal income and spending (PCE inflation)Bureau of Economic Analysis
- Fri Oct 308:30 a.m.Employment Cost IndexBureau of Labor Statistics
Times are Eastern. Schedules from the BLS, BEA and Federal Reserve; see the full economic calendar.
Chart of the week
Source: U.S. Bureau of Economic Analysis.
Real GDP growth moved down to 2.2% in the second quarter from 2.5% in the prior quarter. That is down from 4.0% a year earlier. Over the past 8 years it has ranged from -28.0% (April 2020) to 34.9% (July 2020).
What it measures. The quarterly change in inflation-adjusted gross domestic product, expressed at a seasonally adjusted annual rate.
Why it matters. GDP is the broadest measure of economic output. Two straight negative quarters is a popular rule of thumb for recession, but in the United States the official call is made by the National Bureau of Economic Research using a wider set of indicators.
Worth reading
Selected coverage from other publishers, chosen for relevance to today's markets.
- Meet the homeowners who have been forced to slash their asking prices in a stagnant market. ‘It’s been a roller coaster of emotion’
- More than a third of S&P 500 companies are about to report earnings as market confidence cracks
- Saudi Arabia stocks lower at close of trade; Tadawul All Share down 2.65%
- Why economic health no longer dictates stock-market returns
- I paid off $11,000 of credit card debt in 18 months while still traveling, shopping and living my life
- Volkswagen to build $4bn Audi SUV factory in US despite job cuts at home
Diurna briefs are compiled from official and exchange data by our publishing system using fixed editorial rules; they describe market moves and do not speculate about causes. This is not investment advice. How we produce the Daily Brief.