US Stock Rally Cools as October Turbulence, Earnings Season Loom

US equities have defied virtually every warning in the past five months, clocking one of the best stretches since the 1950s even as investors fretted over the strength of the economy and the impact of tariffs.

While the third quarter is ending with the S&P 500 Index on track for another advance, the mood seemed to shift, however slightly, at the end of last week. The equity benchmark fell three straight days — hardly alarming, but still the longest slump in a month — before pushing higher Friday. It’s up less than 1% since the Federal Reserve’s rate cut ...