There’s plenty to enjoy in October, the cooler temperatures, vibrant autumn leaves across much of the country, and pumpkin spice. Of course, it all culminates with Halloween, and along with it, costumed children shouting, “Trick or treat!?”
When it comes to investing, there are no tricks to an Evidence-Based approach, and the long-term potential for outperformance could be a real treat.
Markets appreciated in Q3 2025, led by trade tensions subsiding, artificial intelligence (AI) enthusiasm, and easing of monetary policy. Equities rose strongly, with the S&P 500, Nasdaq, and Russell 2000 reaching all-time highs in Q3 2025. International stocks continued to outpace U.S. peers year to date (YTD), with Emerging Markets rallying amid easing trade fears.
The Federal Reserve cut interest rates 25 basis points (bps)* in September, and markets are anticipating more cuts by the end of the year. Gross Domestic Product (GDP) rebounded in Q2, but the U.S. job market has slowed down significantly. U.S. tariffs have had a more modest impact than feared. The U.S. economy and corporate earnings have proven stronger than anticipated.
*Basis points (bps) are a unit of measurement used in finance to describe percentage changes for investment performance, interest rates and fees.
Excerpts from Symmetry Market Commentary, Q3 2025
Articles of Interest
What is a Recession Anyway?
Recessions are difficult to predict because they vary widely in duration and severity, with no fixed definition or formula, making economic forecasts and related investment decisions inherently unreliable, explains Dimensional.
Inherited IRAs: What to Know About Taxes, RMDs, and More
Morningstar provides tips on understanding the complex considerations when inheriting an IRA, including RMD changes in 2025.
Charitable Gifting Basics: Timing, Type, and Tax
According to Vanguard, charitable giving can enhance both impact and tax efficiency when strategically timed, properly structured, and aligned with evolving tax and charitable goals.
FAFSA Advice for 2025
A new federal financial aid application dropped on October 1 and being an early bird will likely pay off, recommends Kiplinger.
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S&P 500 Index represents the 500 leading U.S. companies, approximately 80% of the total U.S. market capitalization. Dow Jones Industrial Average (DJIA) Is a price-weighted average of 30 significant stocks traded on the New York Stock Exchange (NYSE) and the NASDAQ. The Nasdaq Composite Index (NASDAQ) measures all NASDAQ domestic and international based common-type stocks listed on The Nasdaq Stock Market and includes over 2,500 companies. The Russell 2000 Index is a small-cap U.S. stock market index that makes up the smallest 2,000 stocks in the Russell Index.
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