I’m a sucker for Presidential history. This is especially true in an election year. Last week, I briefly pondered blowing the dust off of my copy of David McCullough’s biography on Harry Truman. Then the reality set in that it is nearly 1,000 pages and that I am the parent of two small children.

U.S. equities tumbled lower last week to close out October with the worst weekly drop since March driven by the continued rise in Covid-19 case counts around the world and the resulting increase in mitigation efforts as well as the heightened political uncertainty ahead of this week’s U.S. elections.

U.S. equities turned lower last week after three weeks of consecutive gains as market participants sounded a more cautious tone amid the continued rise in Covid-19 cases globally and uncertainty around stimulus negotiations and the upcoming U.S. elections.

U.S. equities managed to eke out small gains overall in last week’s choppy trading as investors digested the initial round of corporate earnings results and monitored progress towards a consensus on the next stimulus bill that continues to be out of reach.

U.S. equities surged to their best weekly gains in three months last week as the White House prepared a $1.8 trillion stimulus bill proposal and market participants looked ahead to the start of the third quarter earnings season, which is expected to mark the beginning of a turnaround for corporate earnings after a significant second quarter drawdown.