US Stocks Erase October Losses

What a difference a week makes.

Mere days ago, spooked investors were asking themselves: Is it time to get out of stocks?

A double whammy of worsening European economic woes and the ongoing global crises from Ebola to ISIS had spread fear in the market.

At the worst point last week, nearly all the gains for the year were wiped out.

But today, stocks surged. People who have their money invested in funds that track the S&P 500 or tech-heavy Nasdaq are smiling. Both indexes have erased well over half their losses for October.

Or put another way: The S&P 500 is now up over 5% for the year.

And the Nasdaq, which had its best day of 2014 today, is up even higher.

via CNN

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza