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September is the worst month for stocks in history. You’ve probably read quite a few stories about the darkest September – the 2008 financial crisis.
But if you sit on the sidelines this month, you’re missing out on a nice rally.
September trading ends on Friday with the Dow up nearly 600 points, or more than 2%. The S&P 500 also edged higher. Both indexes are near all-time highs.
The Nasdaq fell in September.is also like this Russell 2000 (estrus), a collection of smaller U.S. stocks. But many blue-chip stocks performed strongly.
chip maker AMD (AMD) The best-performing stock in the S&P 500 so far, up more than 200%, has soared more than 25% this month alone.
Dow ingredients boeing company (Bachelor) and caterpillar (cat)Despite worries about a trade war with China, these two stocks, which do very well when the overall economy is booming, are up 6% and 10%, respectively.and Exxon Mobil (XOM) Shares soared 7% as oil prices rebounded.
Some consumer stocks also posted strong gains in September, another sign that Americans are confident enough to spend more.
Activision Blizzard (EMU), Hasbro (have), Starbucks (SBUX), walgreens (world boxing association), Lowe’s (low) and Tiffany (TIF) This month’s gains ranged from 5% to 15%.
It appears investors and consumers alike are ignoring the noise in Washington and ignoring Wall Street’s silly axioms about the calendar.
After all, selling and walking away in May isn’t a good idea either. Since the end of April and the start of the so-called dreary summer, the Dow is up 9%, or more than 2,200 points.
CNN Business (New York) First published September 27, 2018: 9:54am ET