Risk Managed Strategy Funds

John Hancock: Weekly Market Recap Week Ended October 17

October 22, 2025

Solid earnings start

The major U.S. banks that kicked off earnings season exceeded analysts’ third-quarter profit and revenue expectations owing in part to rising investment banking income. As of Friday, analysts projected that financials sector earnings rose 18.2%—above the 8.5% growth forecast across all sectors in the S&P 500, according to FactSet.

 

Shrinking yields

As stocks fell on Thursday, the yield of the 10-year U.S. Treasury note slipped below 4.00% for the first time since April, when tariff concerns boosted investor anxiety. The 2-year Treasury’s yield also fell, briefly sinking below 3.40% on Friday—the lowest in more than three years.

 

Gold shines again

Gold futures surged more than 5% for the week and notched their ninth weekly gain in a row. The precious metal briefly reached as high as $4,392 per ounce on Friday morning—just eight days after eclipsing the $4,000 level for the first time.

 

CPI ahead

Although economic reports continued to be delayed because of the U.S. government shutdown that began on October 1, the Bureau of Labor Statistics announced plans to issue a monthly inflation update on a delayed basis on Friday, October 24, so that the agency meets a statutory deadline involving benefit payments tied to inflation. The most recent Consumer Price Index report on September 11 showed a 2.9% annual inflation rate in August, up from 2.7% the previous month.

 

SOURCE: https://www.jhinvestments.com/weekly-market-recap