Even though stocks had their best month in four years, Wall Street ended the month of October on a down note finishing lower on all three indices. Chris Gaffney, president of world markets at EverBank told CNBC:
“There’s just a whole lot of uncertainty in markets right now. We’ve had “a very good month following a very poor quarter in the third quarter. I think it’s some volatility and questioning.”
According to FoxBusiness.com:
Traders in the U.S. were still holding on to action from global central banks as they tried to figure out just exactly what it meant for interest rates in America. On Wednesday the Federal Reserve opted to keep rates steady, but altered language in its policy statement that left the door slightly more ajar for a rate hike at its December meeting. Meanwhile, on Friday, the Bank of Japan followed the path of inaction, deciding to hold off on more stimulus while also lowering its economic-growth forecast from 1.7% to 1.2% for the fiscal year ending March. In addition, the Japanese central bank pushed back the timeframe in which it hopes to achieve a 2% inflation target from the middle of 2016 out as far as early 2017. Consumer prices in the nation, excluding food and energy, were said to have risen 0.9% in September from 0.8% the month prior.
Here are the final numbers from Thursday, 10/30/15 on Wall Street:
Dow Jones Industrial Average: 17,663.54 (-92.26/ -0.52%)
NASDAQ: 5,053.75 (-20.53/ -0.40%)
S&P 500: 2,079.36 (-10.05 / -0.48%)