this post was submitted on 06 Sep 2024
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There's more to it as well, such as:
September is pretty consistently more volatile than other months, and has net negative returns long-term. So it's not just the Fed discussing rate cuts (that news was reported over the last couple months, so it should be factored in), but just normal sideways trading in September.
We already knew about back to school sales, they happen every year and they are priced in. If there was a real stock market dump every year in September, everyone would short September, making a drop in August and covering in September, making September a positive month again
It's not every year, but it is more than half the time. Source:
S&P 500 up this September officially
Woo! We're part of the 44% or so. :)
45% now since the data only goes back 100 years