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This month was certainly one to forget. October lived up to its spooky and volatile moniker quite well. All in all, the markets spent most of the month drifting lower as a variety of factors, from trade to political strife, took hold. But with the calendar turning its page to November, investors seemed a bit more upbeat. Stocks rallied toward the end of the week as positive numbers moved to the forefront.
This included some pretty decent data. Consumers are still happy and spending as the monthly jobs data was strong. Measures of industrial activity remain bullish as well. This helped calm fears about the trade war during the week.
While earnings have been mixed, with many firms missing on revenues and guidance, profits have been large. That’s helped many firms boost dividend announcements and buybacks on the week. A hefty dose of M&A activity, including tech’s largest buyout, helped buoy results.
All in all, the week was mixed, but investors seemed happy to get through the month and into greener pastures.
Be sure to check out our previous week’s Wrap here, when the Wall of Worry accelerated.