On September 19, 2024, the Dow Jones Industrial Average was displayed on the screen after the New York Stock Exchange closed.
Brendan McDermid | Reuters
Stocks were largely flat on Monday, the final trading day of what is shaping up to be a triumphant month and quarter.
Blue-chip stocks fell an average of 148 points, or 0.4%. this S&P 500 Index and Nasdaq Index Both fell 0.1%.
The moves followed a third straight weekly gain for major stock indexes. Stocks get off to slow start in weakest month in history, but rebound as Fed raises rates lower interest rates An oversized half dot.
So far this month, the Dow and S&P 500 are both up 1.5%. The tech-heavy Nasdaq rose 2.3% in September.
S&P 500 Index, 1 month
Stocks struggled briefly in the third quarter, leading investors to question whether a surge in 2024 would have staying power. It is worth noting that this three-month period included Global markets plummeted on August 5During this period, the Dow Jones Industrial Average plummeted more than a thousand points.
But investors eventually overcame their concerns, with the Dow Jones Industrial Average expected to rise nearly 8% this quarter. Since July, the S&P 500 and Nasdaq are up about 5% and 2.2%, respectively.
“The bull market has survived the weakest quarter in history this year,” said Emily Bowersock Hill, CEO of Bowersock Capital Partners. “It’s likely to remain so at least through the end of the year because earnings remain strong, interest rates are heading lower and consumers are still in expenditure.”
Looking ahead, October has been a troubling history for markets. It’s a notoriously volatile time, and Wall Street has seen some of the more significant drawdowns this month.
Still, investors are excited about stocks heading into the final stretch of the year after a rebound so far. Canaccord Genuity analyst Michael Welch pointed out that the fourth quarter is usually the strongest quarter for the stock market, with more than three quarters of gains every four years.
“Markets performed better than we expected in what is typically a challenging September,” Welch said. “We don’t think now is the time to fight the Fed or the broader market, but it is an opportunity to prepare for a potential rebound in the fourth quarter. , especially in the event of any pullback.”
China-focused stocks trading in the U.S. rise after rebound in U.S. markets Best day in 16 years. this China ADR IndexShares of companies tracking U.S.-listed Chinese companies were up 1.5% in midday trading on Monday.
