Published on 31 Oct 2022 on MarketWatch
Dow clinches best October ever despite drop in stocks as investors await Fed meeting
The Dow Jones Industrial Average finished with its best October performance ever on Monday, despite falling along with the S&P 500 and Nasdaq Composite and pulling back from a two-month high, as traders looked toward the Federal Reserve’s midweek decision on interest rates.
October’s gain in the Dow industrials was 14%, surpassing the 10.65% threshold needed to secure the blue-chip gauge’s strongest October on record, according to Dow Jones Market Data. In addition, the Dow’s October showing produced the gauge’s largest monthly percentage gain since January 1976.