3 Things You Need to Know This Week | US Inflation, UK GDP, Year-End Tax Planning (Nov. 10, 2025)

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Scott O’Leary:
Hello and welcome to 3 Things You Need to Know This Week—our regular series designed to help you sift through the noise across financial media and understand what really matters for markets.

To stay up to date with our latest market insights, subscribe to our YouTube channel or visit FisherInvestments.com And with that, here are three things you need to know this week.

First up, US inflation.

Thursday's consumer inflation release could be postponed due to the government shutdown. While that may slow data flow, markets usually look past temporary disruptions, focusing instead on forward-looking indicators and the broader economic picture.

Inflation trends remain fairly benign. The consumer price index has picked up slightly this year, but still hovers near its long-term 3% average. The Fed's preferred gauge, the PCE price index, was lower at 2.7% in August. Jobs growth has cooled. Unemployment has ticked up modestly—but from still historically low levels.

Investors are already debating what all this means for the Fed's December 9th meeting. Some expect a softer labor market could push policymakers toward more cuts. Others worry inflation remains too high. Either way, it's important not to overstate the impact of any single rate move.

Monetary policy is just one influence among many. Taken together, today's mix of steady growth, easing inflation pressures and cautious sentiment continues to support an ongoing bull market.

Next, UK, Q3 GDP.

On Thursday, the United Kingdom will release its preliminary Q3 GDP estimates. Observers will be watching closely to see if the UK can maintain the modest economic growth seen last quarter.

Annualized GDP growth reached 1.4% year-over-year in Q2, supported by upward revisions in government spending, exports and business investment— all highlighting the UK's economic resilience and better-than-expected footing.

What does this all mean for investors? Stocks move on the difference between investor expectations and reality. As we look ahead, UK stocks could benefit from dour sentiment, which lags behind improving economic realities. And while domestic concerns persist, many large UK companies benefit from global revenue streams, which could help them perform well even amid domestic challenges.

Finally, year-end tax planning and Medicare deadlines.

Tax planning isn't just a once-a-year task—it's an ongoing process. And as the year draws to a close, several critical deadlines come into play.

Many tax strategies—like maximizing deductions, deferring income, or contributing to retirement accounts—often come with year-end deadlines.

Your tax strategy should evolve with your circumstances. Regularly reviewing your finances, tax situation and savings ensures you stay on track. Keep in mind, everyone's tax situation is unique, so we recommend consulting with your tax professional to determine which strategies and approach are best for you.

Lastly, but importantly, another critical deadline to keep in mind is approaching; Medicare Open Enrollment, which opened on October 15th and ends on December 7th. This period allows individuals aged 65 and older (or those under 65 with certain disabilities) to switch health care plans or update their coverage for the upcoming year. Even if you're satisfied with your current plan, reviewing changes to those benefits or provider networks can help you make a well-informed decision that best aligns with your individual circumstances.

And that's it for this episode of 3 Things You Need to Know This Week.

For more of our thoughts on markets, check out This Week in Review, released every Friday. You can also visit FisherInvestments.com.

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