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October best month for global stocks
October 30, 2015, 1:43 pm

Can Wall Street continue its October rally or will speculation about a rate hike push stocks back down? [Xinhua]

Can Wall Street continue its October rally or will speculation about a rate hike push stocks back down? [Xinhua]


US stocks opened higher on Friday following published reports of the Chinese leadership’s retinue of economic reforms, stimulus programs and measures to double its growth by 2020.

At press time, the S&P 500 (up 10 per cent in October), Nasdaq and Dow Jones were all up 0.1 per cent, slightly rebounding from a day earlier when US data indicated that growth was slower than expected last summer.

Growth in US stocks may begin to reverse, however, in response to renewed speculation that the Federal Reserve could indeed raise interest rates before the end of the year.

Japan’s Nikkei outperformed other Asian indices on continuing investor confidence that the government would increase stimulus and move to accomodative monetary policy.

It closed up 0.78 per cent at 19,083 on Friday, concluding a nearly 10 per cent growth for the month.

European stocks dropped on Friday, after a surge for the month of October largely on announcements from the European Central Bank that its head Mario Draghi could either increase and/or extend the quantitative easing policy launched last March.

Although the Stoxx Europe 600 Index Index dropped 0.3 per cent today, it’s overall October performance stands at 7.7 per cent in October, its most stellar climb in more than six years.

Meanwhile, Bloomberg says that the MSCI All Country World Index rose 8 per cent in October, following disappointing drops throughout the summer.

The BRICS Post with inputs from Agencies

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