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S&P 500 heads for best August since 1986 as stunning summer rally continues

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It’s been a great August, up 6% for the S&P 500, the best August since 1986.

But then again, it was a great July.  And a great June. May was pretty good, too, and April was downright eye-popping.

The Summer Rally (S&P 500 Monthly Returns)

  • April: up 12.7%
  • May: up 4.5%
  • June: up 1.8%
  • July: up 5.5%
  • August (so far): up 6.6%

Five straight up months. What’s going on?

“August is going to come out looking like capital markets are endorsing a US cyclical recovery,” Nicholas Colas from DataTrek told clients in a recent note.

Colas freely admits that August’s outside return has a big asterisk: Apple‘s 18% run-up.

“This meaningfully skews everything from Tech sector returns to Growth/Value performance spreads…



Source cnbc.com

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