US stocks end a turbulent month at a record high

Costumed characters distribute Hershey candies as trader Edward Curran works on the floor of the New York Stock Exchange, Friday, Oct. 31, 2014. U.S. stocks are opening higher following big gains in Asia after Japan made moves to rev up its economy. (AP Photo/Richard Drew) Costumed characters distribute Hershey candies as trader Edward Curran works on the floor of the New York Stock Exchange, Friday, Oct. 31, 2014. U.S. stocks are opening higher following big gains in Asia after Japan made moves to rev up its economy. (AP Photo/Richard Drew)

By Associated Press November 1, 2014 5 min read

NEW YORK (AP) – For stock investors, there was no shortage of drama in October.

Stocks started the month modestly below a record high, only to cascade to their worst slump in two years. But after flirting with a correction, or a 10 percent drop, the U.S. market rebounded and closed at all-time highs on the last day of the month.

All told, U.S. stocks ended October solidly higher, up 2.3 percent. The Dow Jones industrial average capped the rally by rising 195.10 points, or 1.1 percent, to end at 17,390.52 on Friday. The Standard & Poor’s 500 rose 23.40 points, or 1.2 percent, to 2,018.05 and the Nasdaq composite added 64.60 points, or 1.4 percent, to 4,630.74.

Both the Dow and the S&P 500 closed at record highs.

It’s a remarkable turn given the month’s volatility, which at times approached levels from the 2008 financial crisis. Then again, the month has an unfortunate history for unsettling moves, such as the stock market crashes of 1929 and 1987.