Monday, June 1, 2015

Welcome to the June Swoon

Today is the first day of June, which means that summer is almost upon us - but it also means that the market's dreaded June swoon is also upon us.  The S&P 500 index has declined in six of the last 10 Junes, with an  average performance of negative 1.3 percent.

The Dow Jones industrial average has been even worse. It has been down in eight of the last 10 Junes, and the index has averaged a 1.6 percent decline. The Nasdaq composite is the relative outperformer, losing ground in seven of the past ten Junes but posting an average loss of just 0.9 percent.

Two sectors in the S&P 500 actually show positive average performance for the month: utilities and energy. The utilities sector averages a gain of 1.3 percent over the past ten Junes, and energy averages 0.8 percent.

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