The U.S. economy held firm in October, though early signs of strain are becoming visible underneath. Consumer demand remains relatively strong, with the services Purchasing Managers' Index (PMI) at 54.9 in September, indicating continued expansion. Weekly jobless claims fell to 197,000, suggesting that layoffs remain limited. However, consumer confidence fell to 46.3 in October from 48.1 in September, signaling growing household worries. The U.S. trade deficit also widened to $105.6 billion in August, reflecting strong imports but raising concerns about inflationary pressure. For investors, the biggest concern is the combination of rising energy prices, persistent inflation, and tighter monetary policy. Brent crude climbed to $106.
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