On the heels of the best September in decades came another solid month for the markets and exchange traded funds (ETFs).
In October, the Dow Jones Industrial Average rose 2.6%. The S&P 500 gained 3.4% and the NASDAQ added 5.5%. All in all, it was the best October for the Dow since 2006 and the best for the S&P since 2003.
Much of the market’s gains this month came as a result of anticipation that the Federal Reserve will do more to prop up the flagging U.S. economy in the form of quantitative easing. There is also an expectation that the midterm elections next week will end in a Republican takeover of the House.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.