Stock Markets Climb Under Some Heavy Clouds

The Federal Reserve still hasn’t raised interest rates, though it insists that an increase is just around the corner. An even bigger decision that cannot be put off — it will be made by American voters on Nov. 8 — is stirring concern all over the world.

Stock prices have for the most part risen, all the same. Even with the prospect of higher interest rates, the imminent presidential election and heightened uncertainty in Europe, the Standard & Poor’s 500-stock index rose 3.3 percent in the third quarter, to 2,168.27.