From Equity Research
Equity markets performed well in October with all eleven sectors within the S&P 500 ending in the green for the month. Market strength came despite pressures ranging from rising energy prices to snarled supply chains amidst the backdrop of the COVID-19 pandemic. Investor confidence in October appeared strong with the VIX index or “fear gauge” steadily dropping from over 23 at the beginning of October to end the month in the mid-teens range. For the full month, the Dow Jones Industrial Average increased 5.8%, the S&P 500® index increased 6.9%, and the smaller cap weighted Russell 2000® increased 4.2%.