Despite a rise in stock markets early in October, the month closed slightly down from its starting point. The S&P 500 dropped -2.3% in October, the DOW -4.3% and Nasdaq -1.5%. The DOW is still down -6.9% YTD and -3.1% from a year ago. Other stock indices are positive YTD and over the past 12 months. Domestic bonds were slightly negative over the month while global bonds were slightly positive. Utilities stocks stood out with a +3.8% return in October.
The truly energizing side of this election is the level of voter participation. The level of active involvement the citizens, particularly the young voters, in this democracy feel in this moment is gratifying. The painful split in this country needs to be addressed soon. The threat for the future is real. We need to acknowledge another point of view as valid and listen. To seek and hold some common ground will take a mind shift. To agree to disagree. Not suggesting it will be easy.
A late October blanket of wet snow, courtesy of hurricane Zeta, took out tender annuals but left hardier plants intact. The frosty cold under clear, blue moon skies seemed more like December. New tulip bulbs were already tucked in and crocus can be planted now that the ground is cold. Every autumn we must believe in and prepare for another spring. Especially this one.