October's Must-See Financial Events: US Vice President Debate, Tesla's RoboTaxi Event, US Q3 Earnings Season

October is well-known for its market volatility, often tagged with "Octoberphobia" due to its historical market shakes. However, it has also been dubbed the "bear killer," having reversed the course in 13 post-WWII bear markets. Traditionally, the S&P 500 has seen an average increase of 1.45% during October, placing it as the third-best performing month historically.

This October is packed with several events that may sway the market significantly:

Vice Presidential Debate: Set for October 1st, the U.S. vice presidential debate is expected to stir political waters, potentially impacting market dynamics.

Tesla's Big Moves: Tesla is poised to grab headlines with several key events. Not only are its third-quarter delivery data and earnings on the radar for next month, but the launch of its much-anticipated Robotaxi on October 11th is set to be a major event. Tesla's CEO Elon Musk has heightened expectations with his recent posts on X, labeling the upcoming event as one "for the history books."

Market experts remain cautiously optimistic. Analyst Dan Ives from Wedbush Securities, noted for his bullish stance on Tesla, anticipates significant updates from the Robotaxi event concerning Tesla's advancements in full self-driving (FSD) capabilities and artificial intelligence. According to Ives, "The next phase of the Tesla growth story is around autonomous, robotaxis, and AI playing out for the Tesla ecosystem over the coming year."

Earnings Season Kick-off: The earnings season begins anew, with major banks like JPMorgan set to report, potentially setting the tone for market performance through the rest of the year.

Economic Reports: Investors will also navigate through a slew of significant economic reports including the ISM Manufacturing PMI, non-farm payrolls, and key inflation indicators like CPI, PPI, and PCE. These figures will provide further clarity on the economic landscape and could influence the Fed's policy decisions moving forward.

Source: Trading Economics