That the month of August is stacking up as something of a disappointment for stock investors shouldn\u2019t be a huge surprise. <\/p>\n
The Stock Trader\u2019s Almanac tells us that August has delivered the second-worst month for the S&P 500
\n SPX
\n over the past 35 years. September has also proved a bit bumpy somewhat, historically.<\/p>\n
With that in mind, and after a hairy 2022, some investors have taken money off the table in an attempt to preserve some of the bounce seen this year. <\/p>\n
Buck up campers. So says our call of the day<\/strong>, from Finom Group\u2019s chief market strategist, Seth Golden,\u00a0who says the end of a five-month win streak for the S&P 500 is not all bad news. <\/p>\n Why listen to Golden? Well, in February he forecast the S&P 500 would reach 4,350 this year \u2014 a mark it hit in June. Batting away recession worries, he advised investors to take advantage of any weakness in large growth stocks. Amazon As for where we are now, the strategist looks at data from Carson Investment Research\u2019s Ryan Detrick, who examined five-month winning runs for the S&P 500 since 1950, and found that 79% of the time, the stretch extended to six months. While not the case this time, Golden pulls some encouraging data from that, such as how after five months of gains, the S&P 500\u2019s forward performances six and 12 months later is on average up 82% and 93% of the time, respectively. <\/p>\n \u201cThe average S&P 500 returns 6 and 12 months later are also 6%+ and 12%+, for which savvy market participants may relish in whatever slop and chop price action develops further and in the interim,\u201d said the strategist. <\/p>\n Other reasons not to throw in the towel right now? As Golden points out, the bull market was confirmed on 6\/8\/23, when the S&P 500 climbed 20% from its bear market low. That effort was 165 days in the making, the second longest bear-to-bull shift since 197 days in 1952. <\/p>\n \u201cAll but one of these former bear-to-bull markets lasted longer and delivered more gains than the current 9-month cycle. It would be very improbable that a new bear market has started at the 9-month mark, and doesn\u2019t deliver more gains in the 12-month forward period,\u201d he said. Read Golden\u2019s full thoughts here. <\/p>\n <\/p>\n Also read: <\/strong>Investors parked heavy in cash may be making a \u2018mistake\u2019, Nuveen says <\/p>\n <\/p>\n A snoozefest so far. U.S. stock futures\u00a0 NQ00, For more market updates plus actionable trade ideas for stocks, options and crypto,\u00a0subscribe to\u00a0MarketDiem by Investor\u2019s Business Daily.<\/strong><\/p>\n Shares of consumer electronics retailer Best Buy Boo! Joann shares NIO AT&T 3M Merck The S&P Case-Shiller home price index showed home prices rising in all of the U.S.\u2019s top 20 cities. Still to come are job openings, expected to print a third month of under 10 million, and consumer confidence at 10 a.m.<\/p>\n Read:<\/strong> San Francisco Fed\u2019s head of bank supervision to retire in wake of Silicon Valley Bank\u2019s collapse<\/p>\n Avoiding the 30-year mortgage loan trap can save you hundreds of thousands of dollars.<\/p>\n Billionaire Ken Griffin\u2019s Citadel will pay these math-whiz interns $19,000 a month, but getting in the door is not easy. <\/p>\n President Biden may have used a pseudonym or two during his vice presidency, some 5,400 emails are suggesting.<\/p>\n
\n AMZN,
\n
\n and Visa
\n V,
\n
\n were two of his suggestions and they have delivered this year.<\/p>\nThe markets<\/h2>\n
\n ES00,
\n
\n
\n are flat, following a perky Monday for equities, with the 10-year Treasury
\n BX:TMUBMUSD10Y
\n steady at 4.195%. China stocks
\n XX:000300,<\/span>
\n though, had a fairly upbeat session. <\/p>\nThe buzz<\/h2>\n
\n BBY,
\n
\n are up on an earnings beat, though mixed outlook, with those of food group J.M. Smucker
\n SJM,
\n
\n rising on a higher outlook. Server company Hewlett Packard Enterprises
\n HPE,
\n
\n and PC and printer maker HP
\n HPQ,
\n
\n will report after the bell. <\/p>\n
\n JOAN,
\n
\n are up 6% after early Halloween products drove forecast-beating sales for the arts and crafts retailer.<\/p>\n
\n NIO,
\n
\n stock is up after results for the Chinese EV maker disappointed, but it delivered an upbeat outlook. PDD
\n PDD,
\n
\n is up 12.7% and moving toward a five-month high after the China-based mobile marketplace company reported forecast-beating results amid a \u201cpositive shift\u201d in consumer sentiment.<\/p>\n
\n T,
\n
\n and Verizon Communications
\n VZ,
\n
\n both were upgraded to buy at Citi.<\/p>\n
\n MMM,
\n
\n says it will pay up to $6 billion from 2023 to 2029 to settle a lawsuit against it and Aearo Technologies over earplugs sold to the U.S. military.<\/p>\n
\n MRK,
\n
\n Amgen
\n AMGN,
\n
\n AbbVie
\n ABBV,
\n
\n products are among the first 10 drugs that have been selected for Medicare price negotiations.<\/p>\nBest of the web<\/h2>\n
The chart<\/h2>\n