S&P 500 on pace for monthly gain, take that September!
U.S. indexes up, but off highs: Dow out front, up ~0.5%
Materials lead S&P 500 sectors gainers; Energy weakest group
Dollar down; crude off >3%; gold up; bitcoin up >3%
U.S. 10-Year Treasury yield edges up to ~3.80%
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
S&P 500 ON PACE FOR MONTHLY GAIN, TAKE THAT SEPTEMBER!
With nearly three full quarters of 2024 in the books, the S&P 500 index .SPX stands up around 20% so far this year.
And with this, the S&P 500 has gone against September's reputation as, on average, the worst month of the year:
For the month, the SPX is up about 1.4% vs its average since 1928, which is a decline of about 1.2%.
The SPX is also on track to rise five months in a row, and with about a 5% quarter-to-date gain, it's on pace to rise for a fourth-straight quarter.
Meanwhile, through Wednesday's close, the SPX has scored 41 record closing highs in 2024:
If it can maintain its current pace, the S&P 500 would post around 55 record closing highs this year which would be the most since it scored 70 in 2021.
If so, it would also be the third highest reading since, but not including, 1995's all-time high of 77 record closing highs.
(Terence Gabriel)
*****
FOR THURSDAY'S EARLIER LIVE MARKETS POSTS:
RECOVERY TIME FOR COMMERCIAL REAL ESTATE? - CLICK HERE
THURSDAY DATA JAMBOREE: JOBLESS CLAIMS, DURABLE GOODS, GDP, PENDING HOME SALES - CLICK HERE
NUCLEAR POWER COMPANIES GET JUMP-START ON CLEAN ENERGY DEMAND BETS - CLICK HERE
WALL STREET INDEXES RISE WITH CHIP BOOST - CLICK HERE
CRUDE FUTURES: NOT LOOKING SO WELL ON THE CHARTS - CLICK HERE
WHEN WILL CHINA UNLEASH ITS 'BIG BAZOOKA'? - CLICK HERE
LUXURY BENEFITING FROM CHINA STIMULUS, HEADWINDS REMAIN - CLICK HERE
UBS SEES ROOM FOR STRONGER NORWEGIAN CROWN - CLICK HERE
ECB OCTOBER CUT HANGS IN THE BALANCE - CLICK HERE
EUROPE'S CHINA-EXPOSED STOCKS TURBOCHARGED ON STIMULUS HOPES - CLICK HERE
CHINA GIVES MARKETS ANOTHER REASON TO CHEER - CLICK HERE
EUROPEAN FUTURES BOUNCE AS CHINA STIMULUS OPTIMISM PERSISTS - CLICK HERE
SPXAvgChangebymonth09262024B https://tmsnrt.rs/3XHYhSJ
SPXRCHsperyear09262024 https://tmsnrt.rs/3TJGPfr
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)
</body></html>Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
