So this month’s review will be a trial…. I wanted to see just how much AI will impact our lives going forward and thus let AI comment on last month’s activity. So sit back and relax while AI expounds on last month’s market cycle….. (this ought to be fun).

So, the U.S. economy in October 2024 was like a rollercoaster. First, we got job growth numbers that had more people yawning than watching paint dry. With just 12,000 new jobs, it felt like the economy was napping through its alarm. Investors, naturally, started clutching their pearls, and the stock market futures took a bit of a nosedive, probably wishing they could call in sick for the day.

But wait! Enter the Federal Reserve, our financial superhero swooping in with the promise of an interest rate cut. This announcement was like a double-shot espresso for investors, waking them up and boosting their confidence. Suddenly, the stock market was back on its feet, doing the financial equivalent of a jazz hands routine, with the S&P 500 and Dow Jones Industrial Average shimmying their way to some solid gains.

Meanwhile, the U.S. economy flexed its muscles with a robust 2.8% GDP growth rate for the third quarter, like a bodybuilder at a beach posing competition. Consumer spending was the protein shake fueling this growth, proving that Americans could still shop ’til they drop, job growth be darned. Investors breathed a collective sigh of relief, thinking maybe this jobs hiccup was just a temporary glitch in the Matrix.

Consumer confidence reached new heights, channeling the positivity of a motivational speaker on a sugar high. The Conference Board’s report showed households were as optimistic as a puppy in a room full of squeaky toys. This optimism translated into more spending, which made corporate earnings sparkle like freshly polished shoes, giving the stock market another reason to flash a toothy grin.

Geopolitical factors and global economic conditions also decided to join the party. The IMF raised its growth forecast for the U.S. economy, spreading cheer and confetti all around. This positive outlook helped investors forget about the domestic job market blues and focus on the bigger, brighter picture. However, a few ominous clouds of geopolitical tension and trade volatility still lingered, keeping the most cautious investors from getting too carried away.

In the end, October 2024’s economic rollercoaster ride left the stock market with a cautiously optimistic smile. The weak job growth might have started the month on a sour note, but thanks to a cocktail of interest rate cut promises, strong GDP growth, high consumer confidence, and a sprinkle of global positivity, the market ended up doing a happy dance. Investors might still be clutching their pearls, but they’re doing it with a twinkle in their eyes.

… OK.. That was not as bad as I thought. Humor. Wit and a little charm to brighten your day. Maybe this AI thing is something to consider…. Hmmm.. begs the question…. Are we getting lazier?

Til next month….