The Factor Report

Market Wrap

For the week ended October 9th, 2026, stocks were mixed but ultimately higher globally. Bonds were higher for the week as the iShares Core US Aggregate Bond ETF (AGG) rose 0.36% with yields falling; the 10-year US treasury yield decreased to 5.24%, according to Yahoo Finance. Asset price drivers of the week:

• On Monday, investors ignored rising interest rates and sent stock indices higher with much of the buying in the Technology sector.
• Tech again led broader indices higher on Tuesday as interest rates fell modestly and the price of oil steadied.
• On the flip side, Technology stocks bore the brunt of the selling on Wednesday as investors looked to take some profits after the two-day run-up.
• After more fighting in Iran, oil jumped on Thursday, reigniting inflation fears and sending stocks lower.
• On Friday, investors ignored the noise and did some buying ahead of earnings season, which begins in earnest next week.
• Next week will be relatively quiet (aside from the aforementioned earnings season), but will bring us existing home sales and two key inflation reports - the Consumer Price Index on Wednesday and the Producer Price Index on Thursday.

Performance Summary

As shown in the chart, the US was the winner for the third week in a row as Emerging Markets lagged and Non-US Developed fell. Within the US, neither the tech-heavy Nasdaq nor the more traditional Dow Jones Industrial Average were able to outperform. From a factor perspective, Low Volatility and Quality in the US beat the broader S&P 500.

In The News

A great piece that revisits the idea of privatizing Social Security.

https://www.fa-mag.com/news/trump-wants-to-put-social-security-in-stocks--could-it-save-the-program-88761.html?utm_source=FA+Magazine&utm_campaign=a4f0aa2cac-FAN_FA+News_Ameriprise_100926&utm_medium=email&utm_term=0_-02ce404ce3-625981838

How do midterm elections affect stocks?

https://finance.yahoo.com/markets/article/every-midterm-election-since-1946-has-meant-one-thing-for-stocks-171724628.html?guccounter=1

Why hasn't the market sold off "yet"?

https://finance.yahoo.com/markets/article/the-market-has-had-every-reason-to-sell-off--and-it-hasnt-184848621.html

Disclosures

Past performance may not be indicative of future results. Different types of investments involve varying degrees of risk. Therefore, it should not be assumed that future performance of any specific investment or investment strategy will be profitable or equal the corresponding indicated performance level(s). Moreover, you should not assume that any of the above content serves as the receipt of, or as a substitute for, personalized investment advice from Metric Financial.

All data and performance information sourced from Morningstar and MarketWatch, unless otherwise indicated.

USA is the MSCI USA index, Non-US Developed is the MSCI EAFE index, Emerging Markets is the MSCI Emerging Markets index, and All Country World is the MSCI ACWI index. One cannot invest in an index. Because the factor indexes have varying inception dates, some of the returns provided are back-tested and do not represent actual performance. Inception dates are as follows:

Momentum = MSCI ACWI Momentum NR USD Index (Inception: 11/30/95)

Value = MSCI ACWI Enhanced Value NR USD Index (Inception: 5/29/15)

Quality = MSCI ACWI Quality NR USD Index (Inception: 5/29/92)

Low Volatility = MSCI ACWI Minimum Volatility (USD) NR USD Index (Inception: 5/28/93)

Size = MSCI ACWI Risk Weighted NR USD Index (Inception: 4/6/11)

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All written content is for information purposes only. Opinions expressed herein are solely those of Metric, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.