Risk Managed Strategy Funds

John Hancock: Weekly Market Recap Week Ended November 6

November 10, 2026

Jobs comeback

The U.S. labor market rebounded in October, blowing past economists’ consensus forecast with a gain of 165,000 jobs, far above the 12-month average of 48,000 added per month. In addition, initial figures for August and September were revised upward by a total of 84,000 jobs, and unemployment slipped to 4.1% from 4.2% the previous month.

 

Still magnificent?

For the first time since late 2022, quarterly earnings expectations for the Magnificent Seven group of mega-cap stocks are lower than forecasts for the rest of the 493 stocks in the S&P 500, according to FactSet. In the wake of mixed third-quarter reports from selected Mag Seven stocks, the group as a whole was expected to report a 22.6% growth rate overall for the quarter versus 32.6% for the other 493 companies.

 

Yield retreat

The yield of the 10-year U.S. Treasury fell for the fifth week in a row, extending a decline that left it at 4.86% at Friday’s close, below an early October peak above 5.30%. Yields of 2-year and 30-year Treasuries also declined, finishing at 4.52% and 5.26%, respectively.

 

CPI & PPI ahead

A Consumer Price Index report scheduled for release on Tuesday will show whether a recent trend of persistently elevated inflation extended into October. The most recent CPI report showed an annual rate of 3.7% in September—up from 3.4% the previous month. On Friday, a separate wholesale inflation report on the Producer Price Index is scheduled for release.

 

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