Modest gains overnight saw the Dow and broader S&P500 secure their seventh consecutive monthly advance - Dow up +28.5-points or +0.12% and the S&P500 +0.09%. The NASDAQ +0.43% to a fresh record high. For the month, the Dow gained +4.3% and the S&P500 +4.3%. More than half of the S&P500's gains came from just five companies - Facebook, Amazon, Apple, Google-parent Alphabet and Microsoft. The Nasdaq rose +3.6% in October, the indice's fourth consecutive monthly gain. Attention also turns to the Federal Reserve's latest monetary policy meeting, with an interest rate decision likely at 5am AEDT tomorrow. No change in interest rates is expected albeit the accompanying statement will be closely scrutinised.
