From the Desk - Economic Commentary
Scott Goedken, Institutional Strategies Director - 10/06/2026
The Nasdaq Composite closed at a record high on Monday, while the S&P 500 reached a new all-time high in early trading this morning. Treasury yields have eased from Monday's multiyear highs, and oil prices are lower.
WTI crude oil has fallen to its lowest level since late August. Energy prices have been an important contributor to recent inflation readings, making the pullback in crude oil noteworthy as markets continue to evaluate the inflation outlook.
The U.S. trade deficit widened to $105.6 billion in August, exceeding expectations for a deficit of roughly $102 billion and increasing from July's revised $92.8 billion deficit. Exports increased to $315.2 billion from $310.7 billion, while imports rose to $420.8 billion from a revised $403.6 billion. While trade data typically receive less market attention than inflation or labor market reports, a sustained widening in the deficit can weigh on economic growth.
The economic calendar remains relatively light until later this week. The minutes from the September FOMC meeting are scheduled for release Wednesday, followed by initial jobless claims on Thursday and consumer sentiment on Friday. Next week's September CPI and PPI reports are likely to be the most significant economic releases in the near term.
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