WEEKLY MARKET REVIEW

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Get the latest insights on global financial markets with our Weekly Market Review. In it we discuss the key financial headlines from the U.S, Europe, UK, Ireland, and Asia-Pacific, along with in-depth analysis of major asset classes, including:

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

Weekly Market Review: 19th October 2026

The Week in Numbers

Equity Markets

Equity Indices	Value	Weekly Change	YTD Change
S&P 500	7,744.06	-0.47%	+13.13%
NASDAQ	26,713.03	-2.18%	+14.93%
EuroStoxx50	6,207.45	-0.03%	+7.19%
EuroStoxx600	643.29	+1.36%	+8.63%
FTSE 100	10,832.41	+2.24%	+9.07%
ISEQ	14,158.40	+0.93%	+8.09%

Central Bank Interest Rates

Interest Rate	Current Rate	Direction	Rate Change
FED	4.00%	—	0
ECB	2.65%	—	0
BOE	3.75%	—	0

Government Bonds

Fixed Income	Yield	Weekly Change	YTD Change
US 10YR	5.10	-2.35%	+21.62%
US 2YR	4.74	-0.98%	+36.52%
German 10YR	3.43	-1.04%	+18.02%
UK 10YR	5.38	-1.09%	+18.57%
Irish 10YR	3.56	-1.35%	+16.10%

Foreign Exchange Currency Movements

FX	Value	Weekly Change	YTD Change
EUR/USD	1.124	+0.55%	-4.23%
EUR/GBP	0.843	-0.18%	-3.27%
GBP/USD	1.333	+0.87%	-0.98%

Key Events

20/10/2026 – Earnings – Netflix, GE Aerospace
22/10/2026 – Earnings – Amazon, Mastercard, Intel

Stay Informed with Our Seaspray Private Weekly Financial Market Review

Equities – U.S, Europe, and UK market trends
Bonds – Interest rate movements and fixed-income insights
Commodities – Oil, gold, and other key market drivers

Stay ahead of market trends with our expert insights. Read the latest update now!

FINANCIAL HEADLINES

United States

US inflation rose to 3.7% in the year to September, up from 3.4% in August and the highest rate since May, according to figures from the Bureau of Labor Statistics. The increase was slightly ahead of economists’ expectations and was driven largely by energy costs, as the conflict in the Middle East continued to disrupt oil supplies from the region. Petrol prices rose 9.1% in September alone, accounting for more than half of the month’s increase, and are now around a third higher than a year ago, while heating-oil prices have risen by almost three-quarters. Underlying inflation, which excludes food and energy, also picked up, rising to 2.6% from 2.4%, as housing costs climbed at a faster pace, although food price growth eased slightly. The rising cost of living will feed through to pensions, with Social Security payments set to increase by 3.6% next year. The figures add to the pressure on the Federal Reserve, which raised interest rates in September for the first time in more than three years.

Europe & UK

In Europe, Nvidia chief executive Jensen Huang said the company will announce $2 billion of new investments across the continent over the coming week, adding to the $8 billion it has invested in the region over the past year. Speaking in Paris at the start of a European tour that also takes in London, Stockholm and Berlin, Huang announced stakes in four French start-ups: the healthcare booking platform Doctolib, robotics developer Genesis AI, business-planning software maker Pigment and materials-research firm Entalpic.

In the UK, the International Monetary Fund (IMF) now forecasts a significant uptick in growth for 2026, spurred on by the global buildout of AI. The latest projection put the UK on course to grow by 1.3% in 2026, a 0.5 percentage point upgrade on the IMF’s April forecast. The main reasons behind this are AI-related investment and exports, as well as stronger domestic reslience in the face of the global energy crisis.

Ireland

Irish house price growth slowed to its weakest pace in more than two and a half years, according to the Central Statistics Office (CSO). Residential property prices rose 5.1% in the year to August, down from 5.4% in July and the smallest annual increase since December 2023. Growth was slowest in the capital, where prices rose 3.9%, compared with 6.2% outside Dublin, while prices in Cork and Kerry were up 4.9%. Some of the fastest increases were recorded in the north-west and border counties, including Cavan, Donegal, Leitrim, Monaghan and Sligo. The typical, or median, price paid for a home in the year to August was €400,000.

Asia-Pacific

China’s exports grew at their fastest pace since February, rising 36.3% in September compared with a year earlier, well ahead of economists’ forecasts of around 25%. Global investment in artificial intelligence lifted demand for Chinese electronics and chips, while car exports jumped 56% to 1.18 million vehicles. Imports also rose strongly, up 31%, but overall China’s monthly trade surplus reached a record $133.5 billion. Over the first nine months of the year, China’s trade surplus reached $938 billion, putting it on course to exceed last year’s record of $1.2 trillion and adding to pressure from trading partners, including the European Union, to rebalance trade.

ASSET CLASS REVIEW

Equities

In the United States, concerns over spending on artificial intelligence weighed on technology shares, and a higher-than-expected inflation reading added to the losses. Chipmakers fell on Monday, with Micron down about 4%. The third-quarter results season began on Tuesday with the largest US banks. Goldman Sachs comfortably beat forecasts, reporting its second-highest quarterly revenue on record, as income from equities trading rose sharply. Citigroup’s profit rose 40% and Wells Fargo’s 6%, while JPMorgan’s profit of $15.3 billion fell short of expectations, although the bank raised its outlook for lending income. On the same day, Apple unveiled HomeView, a $299 smart display aimed at challenging Amazon and Google in the smart home market. The device relies on hands-free voice commands and uses facial recognition to provide a personalised experience for each member of a household. Apple has also partnered with LG Electronics and Schneider Electric on a range of smart home products, including a video doorbell, a thermostat and security cameras. On Wednesday, the S&P 500 recorded its largest daily fall since late July after US inflation rose to 3.7%. Nvidia and Meta lost more than 3%, while CoreWeave dropped more than 15% as the yields on its bonds neared 15%, adding to concerns over borrowing to fund AI infrastructure. For the week, the S&P 500 and NASDAQ closed 0.47% and 2.18% lower, respectively.

In Europe, shares rose on Monday as lower oil prices lifted sentiment, while LVMH fell on Tuesday after weaker fashion and leather sales, weighing on luxury peers. ASML, Europe’s most valuable company, reported record quarterly sales of €11.7 billion and raised its full-year forecast for the third time this year. The Dutch chip-equipment maker said demand for its machines, driven by investment in artificial intelligence, would outstrip its planned supply in 2027 and 2028, and that it is exploring ways to increase capacity further. The shares rose on Wednesday, recovering part of Tuesday’s 4% fall during a wider sell-off in chip stocks. On Thursday, chip shares fell sharply again as the global technology sell-off resumed, with ASML down more than 6% and Infineon about 9%. For the week, the Euro Stoxx 50 closed 0.03% lower, while the STOXX Europe 600 closed 1.36% higher.

In the United Kingdom, the FTSE 100 outperformed its European peers, helped by its limited exposure to technology shares. Housebuilders led gains on Wednesday after Bank of England chief economist Huw Pill played down expectations of a series of rate increases, and the index rose again on Thursday after the UK economy unexpectedly grew in August. For the week, the FTSE 100 closed 2.34% higher.

Bonds

US government bond yields rose after the higher-than-expected inflation figures. The ten-year yield climbed to about 5.30% on Wednesday before easing to around 5.10% by the close on Friday, down over 2% on the week. Market pricing for an October Fed rate increase rose to about one in three, from 22% before the figures, while an increase by the end of the year is now seen as almost certain. In the UK, the ten-year gilt yield fell to a three-week low, closing around 5.38% on Friday, with markets almost fully pricing a Bank of England increase in November.

Commodities

Oil was broadly unchanged over the week at about $104 a barrel, as attacks in the Middle East offset signs of improving supply. Brent rose on Monday to about $106.65, its highest settlement since mid-September, after attacks on Saudi Arabia and on tankers in the Strait of Hormuz, where flows remain about 38% below pre-conflict levels. Prices eased on Tuesday as additional Russian diesel supplies and a pause in attacks on energy infrastructure calmed supply concerns, but rose again on Wednesday after reports of an attack near Saudi Aramco’s headquarters, even as OPEC+ production increased in September. Oil fell back on Thursday. Gold dropped to its lowest level since early August on Wednesday, at about $4,090 an ounce, as the inflation figures raised the likelihood of further Fed rate increases, but recovered on Thursday to finish the week about 0.4% higher at around $4,150.

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