Dow Marks Best Month in Over 45 Years

November kicks off with a two-day Fed policy meeting tomorrow

Digital Content Manager
Oct 31, 2022 at 4:26 PM
facebook X logo linkedin

Though stocks settled lower today, all three major benchmarks snapped a two-month losing streak with solid wins. The Dow fell 128 points on Monday, but rose roughly 14% in October -- its best performance since 1976. The S&P 500 and Nasdaq also settled firmly in the red, but this month added 8% and 3.9%, respectively, amid strong gains from industrial and financial stocks.

Elsewhere, the Cboe Volatility Index (VIX) just turned in its worst month since July. November will start with a bang tomorrow, as the Federal Reserve kicks off its two-day policy meeting, which is expected to end with another aggressive interest rate hike.

Continue reading for more on today's market, including:

  • Avoid this lackluster gold stock next month.
  • Roku stock brushed off a pre-earnings bear note.
  • Plus, XPO pops on profit win; unpacking Emerson Electric's stake news; and why Hanesbrands stock plummeted.

The Dow Jones Average (DJI - 32,732.95) dropped 128.9 points, or 0.4% for the day, but gained roughly 14% for the month. Travelers (TRVL) led the gainers, adding 1.4%, while Intel (INTC) paced the laggards with a 2.2% loss.

The S&P 500 Index (SPX - 3,871.98) shed 29.1 points, or 0.8% for the day, but added 8% this month. Meanwhile, the Nasdaq Composite (IXIC - 10,988.15) fell 114.3 points, or 1% for the session, and gained 3.9% for the month.

Lastly, the Cboe Volatility Index (VIX - 25.88) rose 0.1 point, or 0.5% for the session, and lost 18.2% for the month.

closing summary Oct31

nyse nasdaq Oct31

5 Things to Know Today 

  1. Former U.S. President Donald Trump asked the Supreme Court to block a judge’s order that would give Congress access to several years of his tax returns.(CNBC)
  2. Cannabis stocks surged after U.S. Senate Majority Leader Chuck Schumer noted Congress is "very close" to passing a weed banking and expungements measure. (MarketWatch)
  3. How this logistics stock won the day.
  4. Is Emerson Electric selling a majority stake in its business?
  5. Hanesbrands stock hit with the brutal double downgrade.

Earnings Oct31

UVOL Oct31

Gold Prices Extend Monthly Losing Streak

Oil prices settled lower on Friday, following China's downbeat factory activity data and resurfacing Covid-19 restrictions. December-dated crude shed $1.37, or 1.6%, to finish at $86.53 per barrel. For October, black gold added 8.9%, snapping its four-month losing streak.

Gold prices moved lower as well to log their third consecutive daily drop and seventh-straight month of losses. Concerns that the Federal Reserve could maintain its hawkish policy weighed on the yellow metal ahead of this week's interest rate decision. December-dated gold shed 1.9% for the month, and for the day dropped $4.10, or 0.3%, to settle at $1,640.70 an ounce.


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI