Stocks come into the new week with momentum on their side. The Dow Jones Industrial Average closed at a record on Friday, capping off a 1.6% gain for the week. The S & P 500 also reached an all-time high last week and posted a weekly advance of 1.4%. That performance comes on the back of a half percentage point rate cut from the Federal Reserve. The reduction surprised many traders who expected a smaller quarter-point decrease. However, it's not all clear for stock investors yet.
's Jonathan Krinsky pointed out that this is "the worst seasonal stretch of the year," adding that it doesn't end until mid-October. The S & P 500 has averaged a 2.3% loss in September over the past 10 years, according to FactSet data. October has been better for stocks in that time, with an average gain of 1.6%.
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