The stock market on Monday entered what historically is its worst seasonal stretch of the year, according to Bank of America.
The stock market on Monday entered what historically is its worst seasonal stretch of days of the year, according to Bank of America. "September 18 begins the last 10 days of September, which is the worst 10-day period of the year for the [S & P 500] with the index up 40% of the time on an average return of -1.11%," wrote Stephen Suttmeier, technical research strategist for Bank of America in a note Tuesday. So far the S & P 500 is true to form, down about 0.6% this week.
Along with the typical seasonal tendencies, investors this week get a crucial Federal Reserve update Wednesday, with the central bank caught between still-high inflation and a slowing economy. There is also a slew of worker stoppages affecting the economy, higher oil prices and a looming government shutdown troubling investors. The S & P 500 was already in the red for the first part of September and Suttmeier noted that doesn't make this stretch a buying opportunity.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bank of America Corp. stock underperforms Monday when compared to competitorsShares of Bank of America Corp. slipped 0.28% to $28.76 Monday, on what proved to be an all-around positive trading session for the stock market, with the...
Read more »
Bank of America names 2 European chip stocks as its 'top picks' into year-endThe Wall Street bank's 'top autos semis pick' is expected to rise by more than 60% over the next 12 months.
Read more »
How to watch the 2023 Bank of America Chicago Marathon liveThe 2023 Bank of America Chicago Marathon will be nothing short of thrilling, but you don’t have to attend in person to catch the action live.
Read more »
Climate change protesters set to demonstrate outside Bank of America in Bryant ParkCritics say that Bank of America is the third largest financier of fossil fuels.
Read more »
Bank of America says now is the time to buy these three home improvement stocksAs inflation cools and home prices pick back up, home improvement spending is set to rise. These three retail stocks could be winners, says Bank of America.
Read more »