The stock market typically cools off in October following a really strong third quarter, but any weakness could prove to be a potential buying opportunity for year-end, according to Piper Sandler. Stocks are off to a rocky start this month, after an escalation of conflict in the Middle East, a port strike in the U.S., and the fallout from Hurricane Helene spooked investors.
However, the two months following were positive, with the fourth quarter overall gaining 2.7% on average, and 5.2% on a median basis. "We believe October will be more of a 'treat' than a 'trick' for investors as equity markets approach short-term overbought conditions again," Johnson said. "Monitor pullbacks within the context of the long-term uptrend for potential buying opportunities." .
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