The Worst Month Starts off Strong
September is, at least historically speaking, the worst month of the year for the stock market. This year, however, stocks have shaken off the immediate uncertainty generated by a potential U.S. military involvement in the Syrian civil war, as well as the pending uncertainty about the Fed’s decision on “tapering,” and the result has been a nice start for the bulls.
In fact, the S&P 500 has been up six days in a row. If the market closes higher today, it will mark seven straight days of gains. The benchmark measure of domestic stocks also will have been up eight of the last nine days, if we close higher on Wednesday (the S&P was up about 4 points midway through Wednesday’s trade).
After President Obama’s address to the nation last night on the Syrian situation, the markets are basically betting the issue is at least temporarily resolved. And while we still could see some pressure on stocks if the situation heats up again, for now the issue is off of the front burner.
To read the rest of this article, click here.