Market conditions shifted during Q3 2026 as geopolitical tensions and inflation concerns resurfaced alongside higher energy prices. Despite these pressures, U.S. equities were mostly positive during the quarter, with the S&P 500 and Nasdaq Composite gaining, while the Dow declined. Reflecting the mixed backdrop, performance increasingly diverged across sectors, largely influenced by sustained strength in oil markets, evolving rate expectations and sector-specific drivers.

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