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S&P 500 Index (SPX) - Daily Chart - Oct 3 - 31, 2022 (Source: Tradingview)

October 3

• Roaring stocks started the week on a good note with a broad rally that gained momentum throughout the day.
• The Dow jumped 765 points along with the S&P which rose 2.59% and Nasdaq which climbed 2.36%.
• Bond yields edged higher by midday but the market was unfazed as it continued its ascent.
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October 4

• Stocks raced higher yet again for the day following Monday's robust rally. 
• The Dow surged 825 followed by both the S&P (+3.06&) and Nasdaq (3.14) making huge advances. 
• Twitter made a huge impact on the market due to Elon Musk once again proposing to take on the social media giant for his original price. 
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October 5

• A 2-day win streak seemed to have come to an end until an impressive midday rally brought lows bouncing higher not far off from the day’s opening. 
• Stock minimized their losses with the Dow down 42 points followed by the S&P losing 0.20% and the Nasdaq falling a mere 0.08%.
• Wall Street was initially shaken by the morning ISN service read being stronger than expected but recovered when the prices paid component dropped considerably to its lowest level since January of last year. 
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October 6

• Stocks drifted lower prior to Friday’s jobs report with the sectors that propped up the earlier rally of the week losing steam. 
• The Dow fell 346 points, the S&P lost 1.02%, and the Nasdaq dropped 0.76%.
• Investors brace for the upcoming job report that may determine if the market will finally break its 3-week losing streak. 
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October 7

• The market’s volatile week was wrapped up with losses but still managed to snap a 3-week losing streak.
• The Dow fell 630 points along with the S&P (-2.80%) and Nasdaq (-3.88%) suffering losses, Nasdaq being the biggest underperformer.
• An unexpected drop in the jobless rate was viewed as a negative to market bulls as it may give the Fed a reason to resume hiking rates.
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October 10 

• The market faced modest losses on the week’s opening with the Dow falling 96 points followed by the S&P losing 0.75% and Nasdaq declining 1.02%, once again the biggest loser. 
• Chinese-based chip stocks took a hit with the Biden Administration announcing new export controls planned to limit Beijing’s ability to produce advanced military systems.
• The major averages suffered further losses when JP Morgan Chase CEO Jamie Dimon told CNBC that a US recession was likely to occur in 6-9 months. 
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October 11

• A volatile market faced an early slide that turned around initially only to lose steam once again until the end of the session.
• The S&P (-0.65%) and Nasdaq (-1.24%) both suffered losses, but the Dow held onto a 36-point gain, making it the only winner of the day. 
• The culprit of the market’s volatility was interest rates as stocks rose when bond yields copped out but once again fell as bond yields started spiking. 
• Wall Street remains fragile in a state of suspense for the CPI reading on the upcoming Thursday which will give investors a better read on the inflation situation. 
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October 12

• A small and quiet day on Wall Street ended with fractional losses for the Dow and a small decline that pushed the S&P to a yearly low. 
• The Dow lost 28 points and the Nasdaq fell a mere 0.05%, but the biggest loser was the S&P which slid 0.33%, marking a 6-day decline for both the S&P and Nasdaq.
• Stocks continue to face modest losses before the upcoming CPI reading, with September producer prices rising more than expected, putting an idea that inflation data may be uncomfortably high for some time. 
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October 13

• A disappointing inflation report was followed by stocks jumping as traders believed that the market had fallen far enough when pricing in the new inflation data and the Fed's possible responses towards it. 
• The Dow leaped 827 points followed by the S&P rising 2.60% and the Nasdaq climbing 2.30%
• A jump in stocks recovered a 6-day losing streak. Though a one-day reversal is often significant, it is also true that some of the strongest rallies occur during bear markets so indecision continues to overcome explicitness for the time being. 
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October 14

• Stocks crumpled at the end of a volatile week taking back nearly half of the gains from Thursday’s rally.
• The Dow fell 403 points along with the S&P tumbling 2.37%; Nasdaq suffered the biggest loss with a decline of 3.10%.
• The Fed continues to show no concern about letting up on their interest rate hikes.
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October 17

• The market starts the week with an impressive turnaround from last Friday’s decline. 
• The Dow went up 550 points, the S&P climbed 2.65%, and Nasdaq gained 3.65%, the biggest winner of the day.
• The global market received positive news that the UK reversed its recent tax cuts announcement. Strong bank earnings also contributed to the positive tone that helped push the market up.
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October 18

• Although it was a choppy day on Wall Street stocks managed to edge higher by the session close. 
• The Dow rose 337 points and both the S&P and Nasdaq went up 1.14% and 0.77% respectively.
• Strong bank earnings once again gave the market a push and although many people expected earnings guidance to drop during the 4th quarter it hasn’t happened yet.
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October 19

• The market steadily declined while corporates tried to stave off disastrous declines in earnings. 
• The Dow declined nearly 100 points, the S&P fell 0.67%, and the Nasdaq slid 0.40%.
• The market is slowly becoming a slave to bond yields that creep up on fear of recession. 
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October 20

• An early rally on Wall Street soon fizzled out with many stocks ending in the red at the session close. 
• The Dow fell 90 points, the Nasdaq slid 0.51%, but the S&P suffered the most losses with a decline of 0.80%.
• Yields fell flat after speculation on who would succeed UK prime minister Liz Truss who had proposed a package of tax cuts and higher spending that caused chaos in the region. 
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October 21

• Wall Street had a surging rally to finish up the week, the Dow facing a 3-week win streak and its best gains since June. 
• The Dow went up 748 points along with both the S&P (2.37%) and Nasdaq (2.39%) rising modestly.
• Stocks opened on a high note thanks to a Wall Street Journal Article signaling the Fed’s consideration of slowing down rate hikes to avoid risking a sharp slowdown in the economy. 
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October 24

• Wall Street ended in the green, adding on to last week’s rally. 
• The Dow was up 417 points, the S&P climbed 1.63%, and the Nasdaq rose 1.06% at the end of the session.
• The Fed’s concern about taking interest rate hikes too far have been fueling the market for the past few sessions. 
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October 25

• For a third day in a row Wall Street finishes in the green, most stocks showing positive gains.
• The Dow climbed 337 points and the S&P went up 1.63% but the biggest winner was the Nasdaq with a jump of 2.10%.
• Real estate stocks have been positively influencing the S&P with housing prices cooling off very fast.
• Investors will keep notice of so-called “mega-cap” companies that will be reporting results on Wednesday. 
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October 26

• Big tech names weighed down on major averages, causing Wall Street to end the session in the red.
• Despite a big drop, the Dow was able to hold onto a meager 2 points, being the only one on the green for the day while the S&P lost 0.74% and the tech heavy Nasdaq fell 2.26%.
• Disappointing earnings from tech giants resulted in sell-offs from tech related stocks. 
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October 27

• It was a choppy day on wall street with a positive GDP number snapping two straight quarters of economic contraction and easing the fears of a recession.
• The biggest loser for the day was Nasdaq which was down 1.88% while the S&P fell 0.61%. The Dow was able to gain 194 points, holding onto a 5-day win streak and becoming the only winner for the day.
• Tech stocks continue to weigh down on the market with many tech names popping after posting quarterly earnings. 
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October 28

• Stock raced to the weekend with resilience in the face of weak tech earnings. 
• The Dow leaped 828 points with both the S&P (+2.46%) and Nasdaq (3.17%) ending with big gains for the week. 
• Shares of Intel Apple and Microsoft helped carry the market up while other sectors took up a defensive tone. 
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October 31

• Stocks are slipping this Monday as the final trading day of October heads off to a start in the red. Still, the major indices are poised to snap a two-month losing streak.
• Reporting midday, the S&P 500 traded 0.4% lower, while the Nasdaq Composite slid 1.2%. The Dow Jones Industrial Average shed a meager 50 points, or 0.15%.
• The Chicago PMI report came in at 45.2; readings below 50 indicate an economic slowdown.
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