The S&P 500 posted solid gains in October, ending within 1% of a new record high set three trading days before month end. Reaffirming optimism in AI, strong earnings and reduced interest rates lifted equities to their sixth straight monthly gain while bonds clinched their third consecutive winning month. Meanwhile, the partial government shutdown, renewed global trade tensions and a brief flare-up in regional-bank concerns moderated gains. Even so, Wall Street appears to be on a solid footing heading into the final two months of the year.