The S&P 500 capped off the month of October with further gains and more record highs. The month of October saw the S&P 500 rise 6.91%. Over the last decade, there have only been six months with as large of gains as October 2021. November of last year was the last of those months when the index rose 10.75%.
Going back through the history of the index, there have been 166 months on record in which the S&P 500 has rallied at least 5% during the month. On average, the first day of the following month has tended to outperform the first day of all months by 8 bps with positive performance 55.4% of the time. Similarly, the performance of the index over the whole next month has also tended towards outperformance with an average gain of 0.87% (positive performance 65.1% of the time) versus 0.64% for all months. Click here to view Bespoke’s premium membership options.