The stock market will hit record highs by the end of the year based on Goldilocks scenario, Bank of America says

📆 03/09/2023 00:15:00
📰 YahooFinanceCA

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In years when the stock market is up 10%-20% heading into September, market returns are positive 65% of the time during the month.

Caspar Benson/Getty ImagesWhen stocks are up 10%-20% heading into September, the month's returns are positive 65% of the time, BofA said.The stock market is in a Goldilocks scenario that could make conditions just right for record highs before 2023 is over.technical analyst Stephen Suttmeier, the S&P 500 is entering September in a promising middle ground.

Since 1928, stocks are up only 44% of the time in September with an average and median return of -1.16% and -0.49%, respectively. Additionally, in the same Goldilocks scenario as outlined above, the stock market returns an average and median gain of 7.57% and 8.17%, respectively, and is up 91% of the time from September through December.

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