Traders Blow Off US Election Risks as Stocks Race Into October
- S&P 500 heads for best first nine months of a year since 1997
- Put-call ratio for equity options sends bullish market signal
A Wall Street subway station near the New York Stock Exchange.
Photographer: Michael Nagle/BloombergThis article is for subscribers only.
US stocks survived what’s traditionally their toughest stretch of the year, and investors expect the rally to keep running in October despite a contentious presidential election campaign, shifting Federal Reserve policy and fears of a pending recession.
The S&P 500 Index just posted its third straight winning week and is up 5.1% in the third quarter, putting it on track for its best start to a year since 1997, according to data compiled by Bloomberg. It also has pushed the benchmark’s market capitalization above $50 trillion for the first time. And oddly enough, it all happened in September, which historically is the stock market’s worst month.