S&P 500 notches best month of the year | Inflation reaches 30-year high | Wells Fargo’s top momentum stocks

October was a banner period for the market, as the S&P 500 had its biggest monthly jump since November 2020.

VIEW IN BROWSER | SUBSCRIBE FRI, OCT 29, 2021 EVENING BRIEF AS OF FRI, OCT 29, 2021 • 05:15 ET DJIA 35819.56 +0.25% +89.08 S&P 500 4605.38 +0.19% +8.96 NASDAQ 15498.39 +0.33% +50.27   Most Active DOW NAME LAST CHG %CHG AAPL 149.80 -2.77 -1.82% INTC 49.00 +0.92 +1.91% MSFT 331.62 +7.27 +2.24% S&P 500 NAME LAST CHG %CHG AAPL 149.80 -2.77 -1.82% F 17.08 +0.22 +1.30% T 25.26 -0.29 -1.14% NASDAQ NAME LAST CHG %CHG AAPL 149.80 -2.77 -1.82% AMD 120.23 -0.93 -0.77% INTC 49.00 +0.92 +1.91%   EDITOR'S NOTE The stock market squeaked out more record highs on Friday as Wall Street locked up its best month of the year despite rough earnings reports from Apple and Amazon.   October was a banner period for the market, as the S&P 500 had its biggest monthly jump since November 2020. The gain of 6.9% came as a solid string of earnings beats overshadowed some high-profile misses and constant chatter from executives about inflation and snarled supply chains.    "I think 'resiliency' is the word for the day, and it's the word for 2020 and 2021. But I think for 2022, it's going to be 'consistency' — consistency of earnings, consistency of fundamentals," BMO Capital Markets chief investment strategist Brian Belski said on CNBC's "Halftime Report." With more than half of S&P 500 companies having reported their third-quarter results, there are signs that the expectations for the year's final months won't be quite as high for corporate America, possibly making that consistency easier to achieve.    "The fourth quarter marked the sixth consecutive quarter in which the bottom-up EPS estimate increased during the first month of the quarter, which is the longest streak since FactSet began tracking this metric in 2002. … However, it should also be noted that the fourth quarter marked the lowest percentage increase in the bottom-up EPS estimate during these six quarters," FactSet's John Butters said in a note.  Jesse Pound | CNBC Markets Reporter @jesserpound Watch our live stream for all you need to know to invest smarter. TOP NEWS  Stocks close at record highs, market notches best month of the year despite Big Tech earnings misses FDA authorizes Pfizer's Covid vaccine for kids ages 5 to 11, shots could begin early next week with CDC clearance Microsoft passes Apple to become the world's most valuable company Inflation notches a fresh 30-year high as measured by the Fed's favorite gauge Virginia's governor's race remains a dead heat in polls, but Democrats lead in early voting Small-cap stocks fall behind as companies are less equipped to battle supply issues, inflation Get long and buy momentum stocks with 50 trading days left in 2021, says Wells Fargo's top stock strategist Bill Ackman calls for the Fed to start raising interest rates 'as soon as possible' Cuomo sex crime case: New York sheriff says 'we have an overwhelming amount of evidence' The Facebook name was such a drag that employees referred to it as a 'brand tax'   TOP VIDEO Stocks that could benefit from infrastructure bill's latest framework   CNBC PRO Hedge funds went from short Tesla to long before the EV company hit $1 trillion market cap   SPECIAL REPORTS Democrats still weighing changes to limit on state and local taxes deduction Build Back Better Act would close tax loophole for crypto investors   Unsubscribe Manage Newsletters Terms of Service Join the CNBC Panel Digital Products Feedback Privacy Policy   © 2021 CNBC LLC. All rights reserved. A property of NBCUniversal. 900 Sylvan Avenue, Englewood Cliffs, NJ 07632 Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes and Market Data and Analysis. Data also provided by THOMSON REUTERS