Stocks Started November With A Bang But The Market Momentum Might Not Last

Statistically speaking, the fourth quarter is a good one for the stock market. The average and median returns of the S&P 500 for that period are by far the highest, and so are the chances that the index will go up by any amount. Like anything that has to do with stocks, such history is not a guarantee, and October’s S&P 500 decline of 2.2% did not set it up for a good start.

But what a change a week can make. November started with a bang, up almost 4%, which observers attribute to a less-hawkish message from Federal Reserve Chair Jerome Powell, which is remarkable because it wasn’t. You be the judge: