How did U.S. stock indices perform in February 2025?

In February 2025, the S&P 500 fell 1.3%, the Dow Jones Industrial Average slipped 1.4%, and the Nasdaq Composite tumbled 3.9%. Read the full analysis here .

Which sectors had the highest and lowest returns in February 2025?

Consumer Staples rose 5.2%, making it the highest-performing sector, while Consumer Discretionary fell 7%, marking the lowest performance. See sector performance trends here .

What was the trend in home prices during February 2025?

The Median Sale Price of Existing Homes fell below $400,000 for the first time in nearly a year, indicating potential cooling in the housing market. Learn more here .

How did unemployment and labor force participation change in February 2025?

Unemployment fell to 4.0%, and labor force participation rose during February 2025, reflecting a stronger job market. Read the labor market insights here .

What was the performance of gold and oil prices in February 2025?

Gold reached a new all-time high in February 2025, while oil prices declined amid shifting global demand. Explore commodity trends here .

Resources > Blog > Market Insights > Monthly Market Wrap: October 2025

Monthly Market Wrap: October 2025

November 4, 2025

YCharts Market Wrap: October 2025 title card featuring YCharts’ signature gradient design and presentation icon.

Welcome back to YCharts’ Monthly Market Wrap, your data-driven recap of market trends shaping portfolios and client conversations. This October, Markets extended their gains once again, led by continued strength in the technology sector.The Federal Reserve delivered another 25 basis point rate cut, while the ongoing government shutdown delayed several key economic reports. Treasury yields moved lower across most of the curve, while cryptocurrencies struggled to maintain momentum.

Want to use these visuals in your own presentations? Download our free Monthly Market Wrap slide deck, containing all charts featured in the Market Wrap and more in a shareable, presentation-ready format.

Market Summary: Tech Leads While Materials Lag, All Indices Positive as the Fed Cuts Rates Again

Markets moved higher across the board for the second straight month, as the S&P 500 posted a gain of 2.3%. This advance was led by the Nasdaq and emerging markets, which increased by 4.7% and 4.2% respectively. October’s broad-based gains reflect continued investor confidence, as the Fed cut interest rates by 25 basis points for the second consecutive month.

Sector performance was split in October as Technology led the way with another near-7% month. Communication, Real Estate, and Financials were all negative, though none worse than Materials, which slipped 4.4% for the month.

Jump to Equity Performance

The ongoing government shutdown delayed several key economic releases, limiting visibility into the broader economy. With labor and select inflation reports postponed, the Fed Funds Rate 25 basis point rate cut to a target range of 3.75%–4.00% remains the most significant policy development.

Jump to Economic Data

Treasury yields declined across most of the curve in October, with the 1-year serving as the lone outlier to have increased. The largest decline came from the 1-month Treasury, down 14 basis points to 4.06%, followed by the 3-month, which fell slightly less, by 13 basis points to 3.89%.

Jump to Fixed Income Performance

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Off the YCharts! Nvidia Overtakes Entire Nations

Nvidia (NVDA) has officially entered uncharted territory. The company’s market capitalization has surged past $5 trillion, making it larger than the entire GDP of every country globally except the United States and China. At this scale, Nvidia alone is worth more than two Canadas and rivals the combined economies of Italy and France.

YCharts chart comparing NVIDIA’s $5T market cap to the GDP of major economies including Germany, Japan, and India.

Download Visual | Modify in YCharts

Its rise, up 28,900% over the past decade, has reshaped modern markets. Nvidia now accounts for 8.5% of the entire S&P 500 Index, an extraordinary level of concentration for a single stock. Once a leading indicator of innovation, the company has become a measure of market sentiment itself, driving major index performance and portfolio returns alike.

With earnings set for November 19th, the stock currently trades at a P/E ratio of 59, leaving investors eager to see whether results can sustain a valuation rivaling that of entire nations. The comparison highlights both the power and potential imbalance of today’s equity landscape, one that advisors can explore, visualize, and contextualize directly in YCharts.

Equity Performance: Technology Pushes Higher While Materials Lag, All Major Indices Positive in October

Economic Data Overview: Softening Labor Market Key to Fed Rate Cut, Housing Market Shows Signs of Recovery

Disclaimer: Certain data in this blog is temporarily unavailable due to the federal government shutdown. For an expanded look at alternative economic indicators available during this period, visit our blog Navigating the 2025 Government Shutdown with YCharts.

Employment

With September’s employment report delayed by the ongoing government shutdown, official labor data remains limited. The most recent release from August showed unemployment at 4.3%, reflecting a gradually cooling job market.

Advisors can continue tracking labor conditions in YCharts using alternative datasets that remain available throughout the shutdown. ADP Employment Change and ADP Private Employment provide monthly updates on private-sector payroll growth, while the Challenger Report highlights announced layoffs and sector-level shifts. For additional context, LinkedIn’s Jobs Report offers a broader view of hiring activity and workforce trends.

Consumers and Inflation

The US inflation rate rose to 3.01% in September, though core inflation fell to 3.02%. The US Consumer Price Index sits at 0.3% MoM, and US Personal Spending went unreported as a result of the government shutdown.

At the October 29th FOMC meeting, the Federal Reserve cut its key Fed Funds Rate target range by another 25 basis points to 3.75%-4.00%. Fed Chair Powell stated that “job creation is pretty close to zero”, and that a further rate cut in December is “not a foregone conclusion, far from it”. The FedWatch tool still assumes over a 68% chance of a third straight cut when the FOMC meets next on December 10th.

Production and Sales

The US ISM Manufacturing PMI increased 0.4 points in September to 49.1, its second monthly increase in a row. The Services PMI fell by 2.0 points to 50.0, sitting directly on the line between expansion and contraction. The YoY US Producer Price Index and US Retail and Food Services Sales both went unreleased due to the government shutdown.

Housing

Existing Home Sales increased by 1.5% MoM in September, and the Median Sales Price of Existing Homes fell for the third month in a row by 1.7%, with prices sitting at $415,200. Mortgage rates declined throughout October, with the 15-year Mortgage Rate at 5.41% and the 30-year at 6.17% to end the month.

While US New Single-Family Home Sales were unreported, the NAHB Housing Market Index can be used to measure homebuilder confidence, providing an early indication of construction sentiment and future building activity.

Commodities

The price of gold increased slightly this month by 1.8% following a record-setting September, leaving SPDR Gold Shares ETF (GLD) at $368.12 per share. Oil prices decreased, with Brent crude down 4.4% for the month to $65.52 per barrel. WTI was down by 1.7% to $62.13.

Cryptocurrencies

Major cryptocurrencies posted a difficult month, despite what has been a very strong first three quarters of 2025. Ethereum slipped by 9.8% in October, as Bitcoin fell by 5.3% to $108,240.80 per coin.

Fixed Income Performance: Insights into Bond ETFs and Treasury Yields

US Treasury Yield Curve

1 Month Treasury Rate: 4.06%

3 Month Treasury Rate: 3.89%

6 Month Treasury Rate: 3.79%

1 Year Treasury Rate: 3.70%

2 Year Treasury Rate: 3.60%

3 Year Treasury Rate: 3.60%

5 Year Treasury Rate: 3.71%

10 Year Treasury Rate: 4.11%

20 Year Treasury Rate: 4.65%

30 Year Treasury Rate: 4.67%

Download Visual | Modify in YCharts

Bond Fund Performance

Download Visual | Modify in YCharts | View Below Table in YCharts

As we inch closer to 2026, monitor the effects of continued rate cuts and alternative economic data during the ongoing government shutdown. Download the visual aids directly from YCharts, and contact us for customized access to these charts.

Have a great November! 📈

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Disclaimer

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