• October proved to be a reversal month, erasing the losses posted in September, and then moving on to reclaim new all-time highs at month end.
  • The highly anticipated deeper correction failed to materialize as companies reported solid earnings.
  • Supply chain issues persist, but signs are emerging that these are beginning to ease up as well.
  • Other factors to consider include the labor market, wages and inflation – but we believe the market will continue to grind higher through the end of the year.
CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.

This material is provided for informational purposes only and should not be construed as investment advice.

The views and opinions expressed are as of November 2021 and may change based on market and other conditions.

All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided. Actual results may vary.

3857120.1.1