Amid the sky-high inflation and the Fed’s aggressive rate hikes, market volatility is rife, as is evident from the CBOE Volatility Index’s 65% year-to-date gains. However, despite rising recession fears, Wells Fargo analysts expect the U.S. economy to grow at an annualized rate of 2.8% in the third quarter.
Moreover, benchmark indices have gained substantially in October on optimism over initial corporate earnings beats. The S&P 500 gained 4% over the past month, while the Dow Jones Industrial Average gained 7.9%.
