The Global Market Index (GMI) is expected to earn a 7%-plus annualized total return in today’s update for the long-run outlook, based on data through September. The estimate is unchanged from the previous month’s analysis.
Daily Archives: October 2, 2025
Macro Briefing: 2 October 2025
US companies reduced payrolls for a second straight month in September, according to the ADP Employment Report. The data offers a n ew warning sign for the labor market outlook. “Despite the strong economic growth we saw in the second quarter, this month’s release further validates what we’ve been seeing in the labor market, that US employers have been cautious with hiring,” said ADP chief economist Nela Richardson.
