US stocks just logged a third straight losing month for the first time since the onset of the COVID pandemic in March 2020.is still up more than 22% this year and the S&P 500 is up 9%, the Dow Jones Industrial Average .Detrick's work shows that in the five previous instances since 1952 that the S&P 500 has dropped in each of August, September, and October, the index returns an average of 4.5% over the year's final two months. Only December 1957 produced a negative return.
On Monday, Oppenheimer's John Stoltzfus, who had held the highest year-end S&P target among Wall Street strategists tracked by Yahoo Finance,. Stoltzfus now sees the S&P 500 ending the year at 4,400, a noted shift from the 4,900 he projected when the market was at its highs at the end of July, but still about 6% higher than current levels."We view the three-month corrective occurrence experienced by stocks since August as likely near an end," Stoltzfus wrote.
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