Market Review October 2014
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- October was a weak month for U.S. markets, with the Dow Jones Industrial Average posting a small loss of 0.23 percent; the S&P 500 Index declining further, down 1.40 percent; and the Nasdaq dropping 1.90 percent. All three indices bounced around breakeven levels throughout most of the month before finally declining in the last week.
- International markets suffered much more than U.S. markets. The referendum in Scotland on independence from the U.K. rattled markets earlier in the month, while continuing poor news in the progress of a German court case that could declare intervention by the European Central Bank as illegal concerned them toward month-end. Finally, the ongoing conflict between Russia and Ukraine, as well as sanctions imposed on Russia, continued to do economic damage throughout the continent.
- Good news for the U.S. economy continued in September. Positive data points included rising auto sales and home prices, as well as a double-digit drop in job cuts and the nonmanufacturing business survey hitting a nine-year high.
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