Defying September's track record as the worst month for stocks, the S&P 500 was up 8.8 percent. In the third quarter, the index gained 10.7 percent, which was the best in a year.
The session was volatile, split between investors positioning for the end of the quarter and those buying on encouraging data. After up and down moves of nearly 1 percent, equities ended slightly lower.
Still, the S&P 500 seemed to be struggling to break above the 1,145-1,150 trading range.
"Since September was such a strong month, many think October will be the scary one. If (future) data and earnings confirm that we are finally out of fears of a double-dip (recession), October may be the month for the S&P to break above trading range and reach the highs that we saw in April," said John Canally, an economist and investment strategist at LPL Financial in Boston.
A poll by Reuters showed leading investors around the world increased equity holdings to their highest level in three months in September and reduced bonds and cash holdings as confidence about the global economy grew.
Dow Jones Industrial Average
(DJI: ^DJI)| Index Value: | 10,788.05 |
|---|---|
| Trade Time: | 4:02PM EDT |
| Change: |  47.23 (0.44%) |
| Prev Close: | 10,835.28 |
|---|---|
| Open: | 10,836.04 |
| Day's Range: | 10,745.44 -10,948.88 |
| 52wk Range: | 9,378.77 -11,309.00 |
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