We’re closing out what may be the best August for stocks since 2000. And that optimism looks to be staying put, as futures point higher on the heels of Friday’s records for the S&P 500 SPX, +0.67% and Nasdaq Composite COMP, +0.60%.
But going back to 1928, when stocks rose 5% or more in August, and the June to August return was top 25%, the market often struggled in September and October. “And when the S&P 500 is down from the end of August through the Election, the incumbent party has lost the White House on all six occasions,” he notes.
“The last time both NDX and VXN rose together to this degree was January 2018, prior to the period known as ‘Volmageddon,’ which was when Wall Street’s so-called fear gauge — the Cboe Volatility Index VIX, +8.05% surged to a level not seen in 20 years. The chart Goldman Sachs says year-to-date, 43% of female-managed funds have outperformed their benchmarks versus just 41% of those with no female managers.
Shares of Aimmune Therapeutics AIMT, +5.08% are rocketing, after Swiss food group Nestlé NSRGY, -0.35% NESN, +0.25% announced a share deal valued at $2.6 billion for the biopharmaceutical group.
The stock market is controlled by the FED now...
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