Despite modest gains today, all three major benchmarks finished October with their third-straight monthly loss. For the Dow and S&P 500, this is the worst monthly losing streak since January to March of 2020, the onset of the coronavirus pandemic. And while the Cboe Volatility Index (VIX) closed at two-week lows today, Wall Street's "fear gauge" logged back-to-back monthly gains for the first time since August to September 2022.
OIL FUTURES FALL NEARLY 11% IN OCTOBER
Oil futures closed the day lower, marking a 10.8% monthly loss in the process as investors assessed the risks tied to the Israel-Hamas conflict. For the session, December-dated West Texas Intermediate (WTI) crude lost $1.29, or 1.6%, to close at $81.02 a barrel, their lowest settlement since Aug. 28.
December-dated gold rose 0.2% to settle at $2,009.70 an ounce for the day. The bigger story is the monthly rise, set for its largest since November 2022.
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