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It’s October, and investors don’t seem overly worried about ghosts in the stock market.
But just in case, they are increasingly taking a peek overseas where valuations might be more friendly.
In the third quarter, U.S. stocks and stock funds rose once again on the back of solid corporate earnings
and hope for a tax overhaul in Washington. It is far from a frenzy—instead, trading has been slow and
relatively calm. The average diversified U.S.-stock fund had a total return of 3% in September to complete
a 4.2% advance for the quarter and push the year-to-date gain to 12.3%, according to Thomson
Reuters Lipper data.