After a bumpy start October stock markets rose steadily the rest of the month. The major stock indices average closed the month up 2%. Health care sector led the market surge rising 5%; international stocks supported diversified accounts with a one month 3.6% rise. Bonds ran opposite stocks, rising early then falling over the month until the Feds lowered interest rates, closing the month down a little.
Prolonging our growth economy will require continued consumer spending. The signs of coming recession have dimmed but still hover. The Federal Reserve lowered interest rates last week, stimulating the economy. The Fed plans to leave rates at present levels for now, suggesting the economy is stable. A strong job growth report for October reinforces the Fed position. Your portfolio is now positioned to good advantage for growth with lower volatility.
The leafy kaleidoscope of autumn stretched through all of October this year. Amazingly there was no hard frost so even tender herbs held green through the month. Halloween’s wind-driven rain scoured most of the maples but the oaks still blanket hillsides in muted colors. Migrating birds have abandoned full feeders to winter hardy cousins, though robins reappear periodically for fruit. They are especially fond of holly berries. We are fond of robins.
