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00:00:00
>>
APPLAUSE
>> Wall Street staging a dramatic end to a horrible month. The Nasdaq slumped 9% in October, its worst month since 2008. But a surge Wednesday catapulted the Nasdaq out of correction territory in the stock market's first back to back gain in weeks. And the biggest two day rally since 2016, the DOW closing up the day 241 points.
00:00:26
>> I'm Conway Gittens at the Nasdaq. Wednesday's market upswing will do little to soften the losses for October,. A massive exodus led by high growth names like Facebook, Amazon, Netflix, and Google parent alphabet. Responsible for wiping away roughly $8 trillion in global stock market wealth and that is just in 1 month.
00:00:50
We haven't seen that kind of drop in dollar terms since the financial crisis.>> Before we>> But what a difference a few good earnings stories can make. Better than expected profits out of Facebook and a pledge to control costs next year offsetting concerns about slowing user growth.
00:01:07
And General Motors added to Wednesday's upbeat tone. It far exceeded quarterly targets and said full-year earnings were on track to come in at the high end of expectations. This explosive month and rally, bringing the DOW and S&P 500 back into positive territory for the year. But Reuter's market's correspondent Lewis Krauskropf warns the things that spooked this market in the first place still linger.
00:01:33
>> You have rising interest rates and what that's gonna mean for stocks. You have concerns about trade. You have those tensions between the United States and China flare up earlier this week. That's still around. And right around the corner now you have the midterm congressional elections. And as we get closer to that investors are expecting more volatility because of uncertainty about the election results.
00:01:58
>> And ahead of that, two big market events could swing sentiment. Apple's quarterly results on Thursday and the monthly employment report Friday.