VIX Index Notches Third-Strongest October Spike In An Election Year, S&P 500 Snaps 5-Month Winning Streak: Why Volatility 'Is Unlikely To Pull Back,' Analyst Says
Portfolio Pulse from Piero Cingari
The CBOE Volatility Index (VIX) surged 34% in October, marking the third-strongest increase for an election year, driven by political uncertainty and disappointing tech earnings. The S&P 500, represented by SPDR S&P 500 ETF Trust (SPY), ended a five-month rally, with Microsoft (MSFT) leading declines due to disappointing AI-related guidance.
October 31, 2024 | 8:34 pm
News sentiment analysis
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NEGATIVE IMPACT
Microsoft Corp. (MSFT) experienced a significant decline, dropping 6% in a single day due to disappointing guidance on AI spending and integration into cloud services.
Microsoft's stock was negatively impacted by disappointing forward guidance on AI spending and integration, leading to a significant single-day drop.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
The SPDR S&P 500 ETF Trust (SPY) fell in October, ending a five-month winning streak, influenced by political uncertainty and disappointing earnings from major tech companies.
The SPY, representing the S&P 500, was impacted by a combination of political uncertainty and disappointing earnings from major tech companies, leading to a decline in October.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80