In October, the stock market seemed to have bounced back from an unimpressive summer.
Fears about China’s economic troubles and Federal Reserve policy have faded, sending the Dow skyrocketing about 1,500 points in October. The S&P 500 shot up 8.3% — its best month in exactly four years.
Given how much fear was in the market just a short time ago, it’s incredible that the S&P 500 is just 2% away from setting new all-time highs.
“October turned into a banner month for the bulls,” Bespoke Investment Group declared in a recent research report.
Bank of America Merrill Lynch was even more emphatic, saying the bears on Wall Street are now in “hibernation.”
Read more at CNN Money
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