The government shutdown and brinksmanship over a new debt ceiling deal were in the forefront of nation’s mind earlier this month. Stocks weakened in back-to-back sessions early October as the fiscal impasse kept investors restrained.
Equities jumped mid-October as investors became more hopeful of a deal between political parties and a resolution to the impasse. Broad indices were about unchanged from late September, suggesting that the latest government shock to the market was just a minor blip.
Due to the fiscal problems and a weak economic data, investors dove back into equities, anticipating further easy money to help support economy.
In the last week of the month, FOMC confirmed the market’s suspicions and kept its accommodative measures unchanged.
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Max Chen contributed to this article.