It is not unusual for stocks to experience a wild ride in the month of October. Since 1970 nearly one day in three in October has produced a +/-1% move in the S&P 500 Index. In comparison, all of the other months are in the one-in-four to one-in-five range. The 2014 version of October generated even more volatility than usual as over half of the trading days last month saw the S&P 500 move by at least 1%.
Despite the heightened volatility, U.S. stocks managed to move ahead last month with the S&P 500 Index gaining 2.4%. Foreign stocks continued their run of underperformance versus U.S. stocks. The MSCI EAFE Index declined -1.4% in October…
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