• October proved to be a reversal month, erasing the losses posted in September, and then moving on to reclaim new all-time highs at month end.
  • The highly anticipated deeper correction failed to materialize as companies reported solid earnings.
  • Supply chain issues persist, but signs are emerging that these are beginning to ease up as well.
  • Other factors to consider include the labor market, wages and inflation – but we believe the market will continue to grind higher through the end of the year.
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