Brad McMillan, Commonwealth’s CIO, recaps the market and economic news for October. It was a good month for the markets after a difficult September. The Dow and S&P showed strong gains, and developed markets did well. The rebound was driven by the prospect of a slowdown in future rate increases. On the economic front, job growth remained solid, driving increases in personal income and spending. But with the upcoming midterm elections and the possibility of surprises from the Fed, are there risks ahead?  Follow Brad at blog.commonwealth.com/independent-market-observer.