Enjoy the calm now — Goldman Sachs says market volatility may return in October

U.S. stock markets had a very strong September, marking the best month in 15 years. The S&P 500, tracked by Vanguard S&P 500 ETF (VOO), is up 3.6% this September, on track for its best September since 2010.

In 2010, the S&P 500 jumped 8.76%, and in 1997 it rose 6.22% — rare times when September did not follow its usual weak trend. Tech stocks performed even better this month. The Nasdaq 100, via Invesco QQQ Trust (QQQ), rose 5.5%. The Technology Select Sector SPDR Fund (XLK) surged 7.5%, making it its second-best September since 1999, as per the report by Benzinga.

Normally, tech stocks lose around 2.2% in September, so this year is unusual. Companies like Oracle, Tesla, Micron, and Apple led a strong momentum in tech, fueled by AI demand and expectations of Federal Reserve rate cuts. The result is a rare, euphoric September rally that feels more like July or December.

Goldman Sachs warns of October volatility

Goldman Sachs analyst John Marshall said, "Using history as a guide, we expect global equity volatility to increase in October". Historically, stock market volatility in October is more than 25% higher than other months. The increase is due to corporate earnings pressure, year-end performance benchmarking, and big macro events, as per the report by Benzinga.

Goldman Sachs added, "Event volatility could increase further as October earnings season is typically the most volatile of the year". Key events include FOMC meetings, Fed commentary, and the Consumer Price Index report.

October is a pressure cooker

Single stock trading volumes, both in shares and options, usually peak in October. From 1996 to 2024, average daily volume of individual stocks and options was highest in October. Goldman Sachs said, "We see this as further validating our hypothesis that performance pressure potentially drives investors to increase trading activity". The firm expects the volatility to be broad but sees opportunities in single-stock options for earnings-driven moves, as stated by Benzinga report.

Tech events that may stir the market

October has several big tech events that could affect stock prices

Confluent Inc. – Oct. 29–30: Confluent Current

Dell Technologies – Oct. 7: Corporate Analyst Meeting

Autodesk – Oct. 7: Digital Investor Day

Elastic NV – Oct. 9: Financial Analyst Day

Oracle – Oct. 13: Oracle CloudWorld 2025

Salesforce – Oct. 14–15: Dreamforce + Investor Meeting

Procore Technologies – Oct. 14–16: Groundbreak 2025

Hewlett Packard Enterprise – Oct. 15: Securities Analyst Meeting

Intuit – Oct. 27–29: Intuit Connect

Guidewire Software – Oct. 27–30: Guidewire Connections

Adobe – Oct. 28: MAX Investor Q&A

Investing beyond the stock market

Building wealth is easier when investors diversify across multiple asset classes, not just one stock or sector. Arrived Homes lets investors buy fractional shares of rental and vacation homes starting at $100, backed by Jeff Bezos. Worthy Bonds offers SEC-qualified, interest-bearing bonds with a fixed 7% annual return, starting at $10, as per the reports.

IRA Financial allows self-directed IRAs or Solo 401(k) to invest in alternative assets like real estate, private equity, or crypto. SoFi provides access to alternative funds like commodities, private credit, hedge funds, and real estate, often with low minimums. Range Wealth Management offers subscription-based financial planning with flat-fee tiers and AI-powered planning tools.

American Hartford Gold provides a way to buy and hold physical gold and silver for wealth protection, starting at $10,000. After a rare strong September, traders should be ready for October volatility as earnings, Fed events, and tech developments may shake markets, as reported by Benzinga.

FAQs

Q1. Why do experts expect stock market volatility in October?

Goldman Sachs says October usually sees higher volatility due to earnings season, Fed events, and big economic reports.

Q2. Which tech events could affect stocks in October 2025?

Key events include Oracle CloudWorld, Salesforce Dreamforce, Adobe MAX, and investor meetings from Dell, Autodesk, Elastic, Intuit, and others.