In October, it appeared as though the stock market had significantly recovered from a lackluster summer season. Concerns over China’s economic issues and Federal Reserve policies have recently lessened, leading to an impressive surge of about 1,500 points in the Dow during October. The S&P 500 surged by 8.3%, marking its most successful month in exactly four years.
Considering the heightened anxiety present in the marketplace just a short while ago, it’s astonishing to note that the S&P 500 now stands just 2% shy of breaking its all-time high record.
“October has proven to be a triumphant month for bullish investors,” stated Bespoke Investment Group in one of their latest research reports.
Bank of America Merrill Lynch chimed in with even bolder assurance, indicating that bearish investors on Wall Street have now entered a period of “hibernation.”
For more information, check CNN MONEY.
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