{"id":233838,"date":"2025-11-03T10:30:00","date_gmt":"2025-11-03T15:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=233838"},"modified":"2025-11-04T04:57:18","modified_gmt":"2025-11-04T09:57:18","slug":"weekly-market-recap-week-of-november-3-2025","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/","title":{"rendered":"Weekly Market Recap: Week of November 3, 2025"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\" id=\"h-the-week-in-review\">The week in review<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The Fed cut rates by 25bps<\/li>\n\n\n\n<li>Consumer confidence rose in October to 94.6<\/li>\n\n\n\n<li>Pending home sales were flat in September<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-the-week-ahead\">The week ahead<\/h2>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Mfg. and services PMIs<\/li>\n\n\n\n<li>Consumer sentiment<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-thought-of-the-week\">Thought of the Week<\/h2>\n\n\n\n<p>With 2026 quickly approaching, many Americans are looking forward to unusually large income tax refunds. Next year, we expect a double-digit percentage increase in average personal income tax refunds due to the backdating of tax cuts from the OBBBA to the start of 2025. The new tax breaks didn\u2019t become law until early July, and even then, tax withholding schedules were not adjusted for this legislation. Consequently, significantly more money than usual has been withheld from taxpayers throughout the year. In 2025, we estimate that 63% of the 165 million filers will receive a refund, with an average income tax refund of $3,200. In 2026, we expect 65% of filers to receive a refund, with an average refund of nearly $3,950.<\/p>\n\n\n\n<p>With the U.S. economy expected to slow in 4Q25, elevated tax refunds will provide significant stimulus in 1H26, boosting both spending and inflation. But when exactly would we expect to see these effects start to show up? As shown in this week\u2019s chart, during the 2024 filing year\u2014the last full filing year for which we have data\u201461% of refunds were returned to taxpayers by the first week of April. With higher expected refunds and a greater percentage of taxpayers filing electronically, refunds could be even more frontloaded in 2026. Amid the tax refund bonanza, companies could also use the expected consumer spending boost to pass on tariff costs and raise prices, further fanning the inflation flames.<\/p>\n\n\n\n<p>While we don\u2019t expect higher inflation to be sustained throughout next year, investors should continue diversifying across assets that perform well in different inflation regimes, including financials and real assets.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1012\" height=\"401\" data-src=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png\" alt=\"Cumulative share of tax refunds returned to taxpayers\" class=\"wp-image-233839 lazyload\" data-srcset=\"https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png 1012w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222-700x277.png 700w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222-300x119.png 300w, https:\/\/ibkrcampus.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222-768x304.png 768w\" data-sizes=\"(max-width: 1012px) 100vw, 1012px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1012px; aspect-ratio: 1012\/401;\" \/><\/figure>\n\n\n\n<p>Chart of the Week: Source: IRS, J.P. Morgan Asset Management.<br>Thought of the week: Source: IRS, J.P. Morgan Asset Management.<\/p>\n\n\n\n<p>\u2014<\/p>\n\n\n\n<p>Originally Posted November 3, 2025 \u2013\u00a0<a href=\"https:\/\/am.jpmorgan.com\/us\/en\/asset-management\/adv\/insights\/market-insights\/market-updates\/weekly-market-recap\/\">Weekly Market Recap<\/a><\/p>\n\n\n\n<p><strong>Past performance does not guarantee future results.<\/strong><\/p>\n\n\n\n<p><strong>Diversification does not guarantee investment returns and does not eliminate the risk of loss.<\/strong><\/p>\n\n\n\n<p>Opinions and estimates offered constitute our judgment and are subject to change without notice, as are statements of financial market trends, which are based on current market conditions. We believe the information provided here is reliable, but do not warrant its accuracy or completeness. This material is not intended as an offer or solicitation for the purchase or sale of any financial instrument. The views and strategies described may not be appropriate for all investors. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, accounting, legal or tax advice. References to future returns are not promises or even estimates of actual returns a client portfolio may achieve. Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation.<\/p>\n\n\n\n<p>The Market Insights program provides comprehensive data and commentary on global markets without reference to products. Designed as a tool to help clients understand the markets and support investment decision-making, the program explores the implications of current economic data and changing market conditions.<\/p>\n\n\n\n<p>The J.P. Morgan Asset Management Market Insights and Portfolio Insights programs, as non-independent research, have not been prepared in accordance with legal requirements designed to promote the independence of investment research, nor are they subject to any prohibition on dealing ahead of the dissemination of investment research.<\/p>\n\n\n\n<p>This document is a general communication being provided for informational purposes only. It is educational in nature and not designed to be taken as advice or a recommendation for any specific investment product, strategy, plan feature<br>or other purpose in any jurisdiction, nor is it a commitment from J.P. Morgan Asset Management or any of its subsidiaries to participate in any of the transactions mentioned herein. Any examples used are generic, hypothetical and for illustration purposes only. This material does not contain sufficient information to support an investment decision and it should not be relied upon by you in evaluating the merits of investing in any securities or products. In addition, users should make an independent assessment of the legal, regulatory, tax, credit, and accounting implications and determine, together with their own financial professional, if any investment mentioned herein is believed to be appropriate to their personal goals. Investors should ensure that they obtain all available relevant information before making any investment.<\/p>\n\n\n\n<p>Any forecasts, figures, opinions or investment techniques and strategies set out are for information purposes only, based on certain assumptions and current market conditions and are subject to change without prior notice. All information presented herein is considered to be accurate at the time of production, but no warranty of accuracy is given and no liability in respect of any error or omission is accepted. It should be noted that investment involves risks, the value of investments and the income from them may fluctuate in accordance with market conditions and taxation agreements and investors may not get back the full amount invested. Both past performance and yields are not reliable indicators of current and future results.<\/p>\n\n\n\n<p>J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase &amp; Co. and its affiliates worldwide.<\/p>\n\n\n\n<p>Telephone calls and electronic communications may be monitored and\/or recorded.<\/p>\n\n\n\n<p>Personal data will be collected, stored and processed by J.P. Morgan Asset Management in accordance with our privacy policies at https:\/\/www.jpmorgan.com\/privacy.<\/p>\n\n\n\n<p>This communication is issued in the United States, by J.P. Morgan Investment Management Inc. or J.P. Morgan Alternative Asset Management, Inc., both regulated by the Securities and Exchange Commission.<\/p>\n\n\n\n<p>If you are a person with a disability and need additional support in viewing the material, please call us at 1-800-343-1113 for assistance.<\/p>\n\n\n\n<p>Copyright 2025 JPMorgan Chase &amp; Co. All rights reserved.<\/p>\n\n\n\n<p><sup>\u00a9<\/sup>JPMorgan Chase &amp; Co., November 2025.<\/p>\n\n\n\n<p>Unless otherwise stated, all data is as of November 3, 2025 or as of most recently available.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week&#8217;s chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.<\/p>\n","protected":false},"author":186,"featured_media":233839,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[],"contributors-categories":[13608],"class_list":{"0":"post-233838","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-macro","8":"category-north-america","9":"category-region","10":"category-securities","11":"category-text-articles","12":"category-traders-insight","13":"contributors-categories-j-p-morgan-asset-management"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Weekly Market Recap: Week of November 3, 2025<\/title>\n<meta name=\"description\" content=\"This week&#039;s chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/233838\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Weekly Market Recap: Week of November 3, 2025 | IBKR Campus US\" \/>\n<meta property=\"og:description\" content=\"This week&#039;s chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"IBKR Campus US\" \/>\n<meta property=\"article:published_time\" content=\"2025-11-03T15:30:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-04T09:57:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1012\" \/>\n\t<meta property=\"og:image:height\" content=\"401\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Contributor Author\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Contributor Author\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\n\t    \"@context\": \"https:\\\/\\\/schema.org\",\n\t    \"@graph\": [\n\t        {\n\t            \"@type\": \"NewsArticle\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#article\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/\"\n\t            },\n\t            \"author\": {\n\t                \"name\": \"Contributor Author\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\"\n\t            },\n\t            \"headline\": \"Weekly Market Recap: Week of November 3, 2025\",\n\t            \"datePublished\": \"2025-11-03T15:30:00+00:00\",\n\t            \"dateModified\": \"2025-11-04T09:57:18+00:00\",\n\t            \"mainEntityOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/\"\n\t            },\n\t            \"wordCount\": 1007,\n\t            \"commentCount\": 0,\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/11\\\/Screenshot-2025-11-03-100222.png\",\n\t            \"articleSection\": [\n\t                \"Macro\",\n\t                \"North America\",\n\t                \"Region\",\n\t                \"Securities\",\n\t                \"Text Articles\",\n\t                \"Traders' Insight\"\n\t            ],\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"CommentAction\",\n\t                    \"name\": \"Comment\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#respond\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"WebPage\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/\",\n\t            \"name\": \"Weekly Market Recap: Week of November 3, 2025 | IBKR Campus US\",\n\t            \"isPartOf\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\"\n\t            },\n\t            \"primaryImageOfPage\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#primaryimage\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#primaryimage\"\n\t            },\n\t            \"thumbnailUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/11\\\/Screenshot-2025-11-03-100222.png\",\n\t            \"datePublished\": \"2025-11-03T15:30:00+00:00\",\n\t            \"dateModified\": \"2025-11-04T09:57:18+00:00\",\n\t            \"description\": \"This week's chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"ReadAction\",\n\t                    \"target\": [\n\t                        \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/\"\n\t                    ]\n\t                }\n\t            ]\n\t        },\n\t        {\n\t            \"@type\": \"ImageObject\",\n\t            \"inLanguage\": \"en-US\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/traders-insight\\\/weekly-market-recap-week-of-november-3-2025\\\/#primaryimage\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/11\\\/Screenshot-2025-11-03-100222.png\",\n\t            \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2025\\\/11\\\/Screenshot-2025-11-03-100222.png\",\n\t            \"width\": 1012,\n\t            \"height\": 401,\n\t            \"caption\": \"Cumulative share of tax refunds returned to taxpayers\"\n\t        },\n\t        {\n\t            \"@type\": \"WebSite\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#website\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"name\": \"IBKR Campus US\",\n\t            \"description\": \"Financial Education from Interactive Brokers\",\n\t            \"publisher\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\"\n\t            },\n\t            \"potentialAction\": [\n\t                {\n\t                    \"@type\": \"SearchAction\",\n\t                    \"target\": {\n\t                        \"@type\": \"EntryPoint\",\n\t                        \"urlTemplate\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/?s={search_term_string}\"\n\t                    },\n\t                    \"query-input\": {\n\t                        \"@type\": \"PropertyValueSpecification\",\n\t                        \"valueRequired\": true,\n\t                        \"valueName\": \"search_term_string\"\n\t                    }\n\t                }\n\t            ],\n\t            \"inLanguage\": \"en-US\"\n\t        },\n\t        {\n\t            \"@type\": \"Organization\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#organization\",\n\t            \"name\": \"Interactive Brokers\",\n\t            \"alternateName\": \"IBKR\",\n\t            \"url\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/\",\n\t            \"logo\": {\n\t                \"@type\": \"ImageObject\",\n\t                \"inLanguage\": \"en-US\",\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\",\n\t                \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"contentUrl\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/wp-content\\\/uploads\\\/sites\\\/2\\\/2024\\\/05\\\/ibkr-campus-logo.jpg\",\n\t                \"width\": 669,\n\t                \"height\": 669,\n\t                \"caption\": \"Interactive Brokers\"\n\t            },\n\t            \"image\": {\n\t                \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/logo\\\/image\\\/\"\n\t            },\n\t            \"publishingPrinciples\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/about-ibkr-campus\\\/\",\n\t            \"ethicsPolicy\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/cyber-security-notice\\\/\"\n\t        },\n\t        {\n\t            \"@type\": \"Person\",\n\t            \"@id\": \"https:\\\/\\\/ibkrcampus.com\\\/campus\\\/#\\\/schema\\\/person\\\/e823e46b42ca381080387e794318a485\",\n\t            \"name\": \"Contributor Author\",\n\t            \"url\": \"https:\\\/\\\/www.interactivebrokers.com\\\/campus\\\/author\\\/contributor-author\\\/\"\n\t        }\n\t    ]\n\t}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Weekly Market Recap: Week of November 3, 2025","description":"This week's chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.interactivebrokers.com\/campus\/wp-json\/wp\/v2\/posts\/233838\/","og_locale":"en_US","og_type":"article","og_title":"Weekly Market Recap: Week of November 3, 2025 | IBKR Campus US","og_description":"This week's chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.","og_url":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/","og_site_name":"IBKR Campus US","article_published_time":"2025-11-03T15:30:00+00:00","article_modified_time":"2025-11-04T09:57:18+00:00","og_image":[{"width":1012,"height":401,"url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","type":"image\/png"}],"author":"Contributor Author","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Contributor Author","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#article","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/"},"author":{"name":"Contributor Author","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485"},"headline":"Weekly Market Recap: Week of November 3, 2025","datePublished":"2025-11-03T15:30:00+00:00","dateModified":"2025-11-04T09:57:18+00:00","mainEntityOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/"},"wordCount":1007,"commentCount":0,"publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","articleSection":["Macro","North America","Region","Securities","Text Articles","Traders' Insight"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/","url":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/","name":"Weekly Market Recap: Week of November 3, 2025 | IBKR Campus US","isPartOf":{"@id":"https:\/\/ibkrcampus.com\/campus\/#website"},"primaryImageOfPage":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#primaryimage"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#primaryimage"},"thumbnailUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","datePublished":"2025-11-03T15:30:00+00:00","dateModified":"2025-11-04T09:57:18+00:00","description":"This week's chart highlights key trends in tax refunds, showing how changes may impact consumer spending and economic activity in 2026.","inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/traders-insight\/weekly-market-recap-week-of-november-3-2025\/#primaryimage","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","width":1012,"height":401,"caption":"Cumulative share of tax refunds returned to taxpayers"},{"@type":"WebSite","@id":"https:\/\/ibkrcampus.com\/campus\/#website","url":"https:\/\/ibkrcampus.com\/campus\/","name":"IBKR Campus US","description":"Financial Education from Interactive Brokers","publisher":{"@id":"https:\/\/ibkrcampus.com\/campus\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ibkrcampus.com\/campus\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ibkrcampus.com\/campus\/#organization","name":"Interactive Brokers","alternateName":"IBKR","url":"https:\/\/ibkrcampus.com\/campus\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/","url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","contentUrl":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2024\/05\/ibkr-campus-logo.jpg","width":669,"height":669,"caption":"Interactive Brokers"},"image":{"@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/logo\/image\/"},"publishingPrinciples":"https:\/\/www.interactivebrokers.com\/campus\/about-ibkr-campus\/","ethicsPolicy":"https:\/\/www.interactivebrokers.com\/campus\/cyber-security-notice\/"},{"@type":"Person","@id":"https:\/\/ibkrcampus.com\/campus\/#\/schema\/person\/e823e46b42ca381080387e794318a485","name":"Contributor Author","url":"https:\/\/www.interactivebrokers.com\/campus\/author\/contributor-author\/"}]}},"jetpack_featured_media_url":"https:\/\/www.interactivebrokers.com\/campus\/wp-content\/uploads\/sites\/2\/2025\/11\/Screenshot-2025-11-03-100222.png","_links":{"self":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/233838","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/comments?post=233838"}],"version-history":[{"count":0,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/posts\/233838\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media\/233839"}],"wp:attachment":[{"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/media?parent=233838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/categories?post=233838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/tags?post=233838"},{"taxonomy":"contributors-categories","embeddable":true,"href":"https:\/\/ibkrcampus.com\/campus\/wp-json\/wp\/v2\/contributors-categories?post=233838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}