From the Desk - Economic Commentary
Scott Goedken, Institutional Strategies Director - 11/03/2026
U.S. equity markets are mixed this morning, with the DJIA lower and the S&P 500 and Nasdaq higher. Treasury yields have moved higher across the curve, while oil prices are modestly lower.
Job openings increased to 7.5 million in September from an upwardly revised 7.2 million in August and exceeded expectations of approximately 7.1 million. Hires were little changed at 5.4 million, while quits increased to 3.4 million from 3.0 million.
Factory orders increased 1.8% in September, above expectations for a 1.2% gain and following a revised 0.3% increase in August. Durable goods orders also increased 1.8%, matching the advance estimate.
Today’s midterm elections add another source of market uncertainty. The results could affect the fiscal and regulatory outlook, with potential implications for inflation and Federal Reserve policy.
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