NEW YORK, Aug 27 – A rally in which U.S.
September has been the worst month of the year for the S&P 500 , with the benchmark index falling an average of 0.56% since 1945, according to Sam Stovall, chief investment strategist at CFRA.
This time around, stocks have momentum on their side.
The index has gone on to deliver a median gain of 5.2% for the rest of the year during years when it made 30 or more new highs through August, according to data from LPL Financial.
While major indexes stand near fresh highs, many stocks have been left behind.
Investors have also been cutting back on leverage, with margin debt dropping 4.3% to $844 billion in July even as the S&P advanced more than 2%, according to data from BofA Global Research.
Though the market’s year-to-date gains have been spectacular, investors have questioned how much juice remains in the rally.
A window into how the Delta variant has rippled through the economy will come next Friday, with the release of the U.S.
BofA Securities said buybacks from corporate clients last week hit their highest level since mid-March, a potential source of support for stocks.
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