Don't sweat October. Stocks are already rebounding

After a scary October, the stock market could have a winning November.The ...

Posted: Nov 1, 2018 12:46 AM
Updated: Nov 1, 2018 12:46 AM

After a scary October, the stock market could have a winning November.

The Dow rose 241 points Wednesday, or 1%. The Nasdaq jumped 2%, while the S&P 500 climbed 1%. The solid trading session follows a strong Tuesday in which the Dow soared 432 points.

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The Nasdaq's gains Wednesday trimmed its monthly decline to 9.2% — still the index's worst month since November 2008. The S&P 500 ended the month down 6.8%, its steepest decline since September 2011.

Expect stocks to get back on track following this month's pullback, Brian Belski, chief investment strategist for BMO Capital Markets, said Wednesday on CNN's "Markets Now" live show.

Belski described the dip as "very normal and very healthy."

"We never like to see people lose money, but we needed to take some complacency out of the market," he said.

This stock market had an extremely volatile month. Big Tech stocks plunged as earnings growth slowed, interest rates rose and the threat of a longer China trade war intensified.

But concerns that corporate earnings would falter were overblown, according to Belski.

"Everyone was nervous about earnings for no good reason," he said.

Weak results from industrial companies such as 3M (MMM) and Caterpillar (CAT) did push down markets last week, but the index raced back by day's end.

"We think this is a bull market correction within a very large secular longer-term bull market," Belski said.

Now is the time to put money into American stocks, he continued. After the credit crisis, investors risk playing too much defense, he said.

"American companies are the strongest of the world, with the most consistent earnings growth," Belski said. "You need to be a buyer of American stocks, and we're here to stay."

"Markets Now" streams live from the New York Stock Exchange every Wednesday at 12:45 p.m. ET. Hosted by CNNMoney's business correspondents, the 15-minute program features incisive commentary from experts.

You can watch "Markets Now" at CNNMoney.com/MarketsNow from your desk or on your phone or tablet. If you can't catch the show live, check out highlights online and through the Markets Now newsletter, delivered to your inbox every afternoon.

Mississippi Coronavirus Cases

Data is updated nightly.

Cases: 261167

Reported Deaths: 5713
CountyCasesDeaths
DeSoto17561191
Hinds16687329
Harrison14050202
Rankin11102217
Jackson10729188
Lee9014143
Madison8495168
Jones6607114
Forrest6135122
Lauderdale6067192
Lowndes5490120
Lafayette511794
Lamar499865
Washington4904125
Bolivar4087109
Oktibbeha403581
Panola380981
Pontotoc374757
Monroe3651106
Warren3649103
Union353263
Marshall352069
Neshoba3464154
Pearl River3422105
Leflore3090109
Lincoln304287
Sunflower290373
Hancock288461
Tate279062
Alcorn270754
Pike268180
Itawamba266662
Scott256048
Yazoo253756
Prentiss251153
Copiah247649
Tippah247550
Coahoma245954
Simpson241471
Leake236167
Grenada222471
Marion220273
Covington219072
Adams212370
Wayne208432
Winston205870
George203539
Newton197346
Attala196461
Tishomingo193861
Chickasaw188444
Jasper177838
Holmes171368
Clay164237
Tallahatchie155635
Stone149525
Clarke144762
Calhoun139922
Smith127725
Yalobusha121134
Walthall114037
Greene112929
Noxubee112225
Montgomery111236
Carroll106422
Lawrence105617
Perry104031
Amite100826
Webster95424
Tunica88221
Claiborne87825
Jefferson Davis87727
Benton84823
Humphreys84224
Kemper80020
Quitman7049
Franklin69617
Choctaw62513
Wilkinson59625
Jefferson56520
Sharkey44817
Issaquena1606
Unassigned00

Alabama Coronavirus Cases

Cases: 436087

Reported Deaths: 6486
CountyCasesDeaths
Jefferson63969994
Mobile31211565
Madison27851208
Tuscaloosa21233271
Montgomery19698326
Shelby19093130
Baldwin16981188
Lee13036105
Morgan12526134
Etowah11987179
Calhoun11441206
Marshall10357123
Houston8886158
Limestone827876
Cullman8203108
Elmore8120104
DeKalb7828103
Lauderdale7798103
St. Clair7763125
Talladega6394111
Walker6002177
Jackson594644
Colbert545276
Blount543986
Autauga532761
Coffee456762
Dale406883
Franklin372448
Russell349212
Chilton342873
Covington336068
Escambia330144
Dallas312096
Tallapoosa3120107
Chambers301170
Clarke293336
Pike261131
Marion251558
Lawrence250752
Winston232742
Bibb221248
Geneva208746
Marengo206529
Pickens199031
Hale182742
Barbour179337
Fayette177029
Butler172459
Cherokee164330
Henry158224
Monroe151320
Randolph144336
Washington140127
Clay129146
Crenshaw122944
Macon120937
Cleburne120724
Lamar119721
Lowndes113736
Wilcox106622
Bullock102228
Perry99118
Conecuh96821
Sumter90026
Greene76823
Coosa63215
Choctaw51724
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