September’s arrival usually means fresh school supplies and investment ideas, but for now Wall Street is expecting more of the same—and that may not be a bad thing.
The S&P 500 is up 21% this year and while few on the Street expect that it can continue climbing at such a rapid pace for the last four months of the year, there’s little reason to doubt that stocks will continue marching on despite what happens elsewhere in the world.
Need proof? Over the past week, much of the East Coast was pummeled by the remnants of Hurricane Ida. Many lost their homes and others remain without power and yet stock index
Then on Friday, the Labor Department announced that there were 235,000 jobs added to the economy in August—well below the 750,000 forecast by economists. The market, coming off of Thursday’s highs, was mixed with the S&P 500 slightly down at 4535.43, the Dow Jones Industrial Average off 0.2% at 35,369.09, and the Nasdaq Composite up 0.2% at a record high 15,363.52. For the week, the Dow was lower by 0.2%, while the S&P 500 was up 0.6% and the Nasdaq was up 1.5%.