U.S. equity markets rallied to their best week since July as a strong start to corporate earnings season and a solid slate of economic data temporarily eased investor jitters over potential stagflation.
Rebounding for the second-straight week following a rough September, the S&P 500 gained 1.8% this week while the MidCap 400 rallied 2.2% and the Small Cap 600 rose 0.4%.
Real estate equities - particularly residential REITs - led the charge this week with gains of more than 3% as logistics giant Prologis kicked off earnings season with another stellar report.
Hidden beneath another month of soaring inflation rates on food, energy, and rents, there were some potential glimmers of "good news" with signs that we may currently be seeing the worst of the price pressures.
Meanwhile, strong retail sales data and improving jobless claims were juxtaposed with an unexpected slump in consumer confidence and a record surge in workers quitting their jobs.
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