Liz Ann Sonders Re-poster

I am delighted to be making a guest appearance on @CNBCClosingBell #Overtime later today. Please be sure to tune in this afternoon, as I will be joining the broadcast shortly after 4:15pm ET.

Recent data reveals that pending home sales for September saw a month-over-month decrease of 7.3%. This result was noticeably steeper than the estimated decline of 0.5% and marks a distinct shift from the prior 0.3% increase. As a consequence of this recent downturn, the overall index level has now dropped to a record low.

Here is the latest update regarding the October economic data. The @philadelphiafed Services Index experienced a decline, settling at -23.6 compared to the previous reading of -22.0. Breaking down the specific details of the report, the metric for new orders climbed to +2.8, representing a shift from the prior figure of -2.2. Additionally, the prices paid measurement increased to +42.1, up from the earlier +37.8. At the same time, the employment gauge recorded a +12.0, which is lower than the previous mark of +19.0.

Based on recent information from @adpresearch, employment in the private sector grew by an average of 18,500 jobs during the four weeks concluding on Oct. 3. This figure represents a drop from the previous week, which saw a reported total of 26,000 new positions.

Here is a look at the residential construction data for September. Housing starts experienced a month over month decrease of 5.2%, which missed the estimated increase of 1.9%. Additionally, the previous figure for housing starts was revised downward to a 5.9% decline from the initially reported 2.6% drop. On the other hand, building permits fell by 0.2%. This reduction in permits was smaller than the estimated 1.3% decrease and followed a 2.1% drop during the prior period.

Since hitting its peak in October 2025, the forward P/E ratio for the S&P 500 has decreased significantly. As it stands today, this metric is actually trading just a bit below its historical 10-year average.

During the week concluding on 10/16/26, exchange-traded funds focused on large-cap equities captured the vast majority of market flows. Taking a closer look at the fixed-income sector, municipal offerings emerged as the clear leaders of their category. On the other hand, small-cap investments recorded the most substantial withdrawals for the period. @DataArbor

The 4Q26 survey from @conferenceboard reveals that CEOs consider cybersecurity threats to be the greatest risk connected to artificial intelligence by a significant margin.

In October, builder confidence tracked by @NAHBhome declined throughout the majority of the country. The South and West experienced drops that brought them to their lowest points in over a decade. Meanwhile, the Northeast stood out as the sole exception to this broader trend, actually recording a minor gain.

During October, a pair of key components within the @nahbhome Housing Market Index dropped to their lowest levels of the current cycle. Specifically, both prospective buyer traffic and future home sales experienced a decline of 5 points.

Here is a summary of the performance across various market sectors and financial indexes, covering the results from yesterday alongside the month to date and year to date figures.

Over the last few trading sessions, the inverse trend linking the 10y yield and the S&P 500 has softened a bit, although their overall rolling correlation continues to stay in negative territory.

How the Baskets Have Performed

An overview of benchmark declines alongside the percentage of outperforming components

Please refer to the visual representation and structured tabular data associated with Tensor10.

Visualizations of breadth

I am eagerly anticipating my guest appearance on @BloombergRadio early today. Please tune in as I join the broadcast this morning at 5:40am ET.

I am very excited to team up with @JoeMazzolaCS this afternoon for a presentation of #LizAnnLive. Our session will be hosted on #SchwabLearn from 3-3:25pm ET. Please feel free to tune in and join us by visiting the following link: https://www.schwab.com/coaching

Prospective homebuyers continue to sit on the sidelines due to current mortgage rates and ongoing affordability challenges. Because of these market conditions, the October builder sentiment reported by @NAHBhome has taken a downward turn. The reading fell to 29, missing the estimated forecast of 31 and dropping from the prior month score of 32. This recent decline marks the lowest level seen for this metric since June 2012.

Recently, semiconductors experienced a decline across eight consecutive sessions, which marks their most extended downward streak in 16 years. Despite this prolonged drop, it is helpful to keep in mind that the index is still up more than 50% YTD. Please remember that past performance is no guarantee of future results.