MARKET RECAP<\/p>\n
Another incredible week as US stocks rose by 4.16% and are now up 8.81% for the month; this is in the face of what is almost certainly another 0.75% increase in the fed-funds rate this week. Or maybe the market is looking ahead to what often is a market rally after the midterm elections. According to the Stock Traders Almanac, the Dow has averaged a gain of 46.8% since 1914 from the midterm low to the pre-election year high. But that metric will undoubtedly be tested by a Fed focused on slowing the economy until inflation fades.<\/p>\n
The Dow is up 14.4% for the month, and assuming nothing crazy on Halloween, will turn in its best performance since January of 1976.<\/p>\n
Except for Apple, big tech missed on earnings. Microsoft scraped by with a small beat, but disappointed investors with its outlook, Alphabet’s revenue fell short in the advertising category, and Meta missed on overall sales.<\/p>\n
SCOREBOARD<\/p>\n
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