Stock Skeptics Forced to Recant by Best October Run in Six Years
- ETF inflows hit 7-month high while traders rush to buy calls
- Equity buoyancy at odds with turmoil in fixed income market
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From a global tremor in sovereign bonds to a spike in energy costs, October lived up to its reputation as one of the most volatile months for markets. To stock bears’ chagrin, though, the tumult did nothing to halt the relentless rally in equities.
Not even disappointing results from two of the world’s biggest companies could slow the S&P 500’s push higher. It ened the week at a record despite declines in Apple Inc. and Amazon.com Inc., rolling up a gain of almost 7% for the month to notch the best October in six years.