Stocks Close Out Black October On A High Note

It was a not-so-scary Halloween on Wall Street with major indices finishing up on Friday, adding to this week’s gains. Stocks rallied this afternoon, causing the Dow to surge 141 points and the S&P 500 to jump up roughly 15 points.

Reuters: Stocks ended one of their worst months on record, but signs of further thawing in credit markets lifted battered shares on Friday.

The Dow Jones industrial average (DJI:^DJINews) was up 144.32 points, or 1.57 per cent, to end unofficially at 9,325.01, based on the latest available data. The Standard & Poor’s 500 Index (^SPXNews) was up 14.66 points, or 1.54 per cent, to finish unofficially at 968.75. The Nasdaq Composite Index (Nasdaq:^IXICNews) was up 22.43 points, or 1.32 per cent, to close unofficially at 1,720.95.

For the week, the Dow unofficially rose 11.3 per cent, its best one-week percentage gain since October 1974, while the S&P 500 unofficially climbed 10.5 per cent, its best one-week percentage gain since at least January 1980. The Nasdaq unofficially climbed 10.9 per cent for the week.

October was a different story, going doing unofficially as the worst one-month percentage drop for the Dow since August 1998 and since the October 1987 market crash for the S&P 500. For the Nasdaq, its percentage drop in October unofficially was the worst monthly percentage loss since February 2001.

Get ready for more volatility during election week. Until then, happy trick-or-treating!

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