U.S. ETFs And Stocks Close Out Ghostly October With A Loss

Courtesy of John Nyaradi.

U.S. ETFs and stocks post a loss for October as Halloween settles in across North America

AS New York and the United States clean up after “Frankenstorm,” U.S. stocks and ETFs close on Halloween Eve with a loss for October.

After posting straight monthly gains since last May, U.S. stocks and ETFs were unable to sustain their gains as gloomy economic news and earnings reports added to the ghostly gloom of October.

Hurricane Sandy generated the first two day weather related close of the New York Stock Exchange since 1888 when Grover Cleveland was President. Wall Street Reopens On Wednesday

Major U.S. Index ETFs:

Dow Jones Industrial Average (NYSEARCA:DIA) -0.08%

S&P 500 (NYSEARCA:SPY) +0.02%

Russell 2000 Index (NYSEARCA:IWM) +0.67%

Nasdaq 100 (NYSEARCA:QQQ) -0.67%

For the month of October, major U.S. stock indexes and ETFs painted red with the Dow Jones Industrial Average (NYSEARCA:DIA) losing 2.5%, the S&P 500 (NYSEARCA:SPY) dropping 2% and the Nasdaq 100 (NYSEARCA:QQQ) shedding 5.4% for October.

In economic news today, the Chicago PMI came in basically flat at 49.9%, up from 49.7% for September but again below the 50 level which marks the divide between contraction and expansion. Chicago Purchasing Manager’s Report Disappoints

The week ahead brings a deluge of economic reports climaxing on Friday with the monthly Non Farm Payrolls and Unemployment Reports which will be last report on employment before next week’s Presidential election.  Other market moving reports will come from October PMI, weekly jobless claims and European economic health as indicated by the Markit PMI, all due to arrive on Thursday. U.S. Stock Market Faces Huge Week

 Bottom line: U.S. stocks and ETFs post a down month and now look towards major economic reports this week and next week’s Presidential election to determine if the ghouls of October will continue haunting global markets in November.

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