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International stocks have gained 30% in 2025, outperforming US stocks by the largest margin since 2009. This is evidenced by the Vanguard Total International Stock ETF, which is approximately 12 percentage points ahead of the S&P 500, with a PE ratio of 14.6 compared to 22.9 for the S&P 500 ETF, according to Morningstar.
In financial news, the Federal Reserve cut the target for the federal funds rate by 0.25% on November 1, 2025, but Chair Jerome Powell indicated that future cuts are uncertain, leading to a spike in the 10-year Treasury yield above 4%, its largest one-day increase since July. Meanwhile, inflation for September rose to 3% from 2.9% in August.
A study from MIT highlights that 60% of jobs in 2018 did not exist in 1940, showcasing the evolving labor market, which has seen significant layoffs from major companies like Amazon, Microsoft, and Meta. This shift reflects the impact of AI on job roles, with many positions being streamlined significantly as technology advances.
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