Market headed for first winning September in 5 years, but don't get too comfortable

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S&P 500 Index Nouvelles

Stock Markets,Investment Strategy,Business News

The S&P 500 is heading for its first positive September since 2019.

This September's stock performance is shaping up to be a standout month in recent years. In fact, the S & P 500 is on pace for a winning September — its first since 2019 — with a gain of more than 1%. The month is typically the worst stretch of the year on average for all three major averages and the Russell 2000, according to the Stock Trader's Almanac. Some of September's strength could be attributed to the Federal Reserve's supersized rate cut last week .

The Conference Board's consumer confidence index in September posted its biggest one-month decline in more than three years, which initially pressured equities early in the session. Any worrisome economic data remains a headwind to investors seeking reassurance that the Fed's decision to cut will not come at the risk of a recession. Stock performance so far this month remains at odds with historical precedent.

 

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