See what’s driving market performance around the world in today’s Morning Lineup.  Bespoke’s Morning Lineup is the best way to start your trading day.  Read it now by starting a two-week trial to Bespoke Premium.  CLICK HERE to learn more and start your trial.

“If you don’t know who you are, the stock market is an expensive place to find out.” – Adam Smith, The Money Game

Below is a snippet of content from today’s Morning Lineup for Bespoke Premium members.  Start a two-week trial to Bespoke Premium now to access the full report.

With August coming to an end soon and what has historically been the worst month of the year for the stock market — September — on deck, this morning we looked for years similar to 2022 that saw strong S&P 500 gains in the first two months of Q3 even though the index was still down big YTD.

Only two other years since WW2 really fit the bill.  Both 1962 and 1970 saw 7%+ gains in the first two months of Q3 with the S&P still down more than 10% YTD through August.  Below is a chart showing the YTD % change throughout the year in 1962, 1970, and so far in 2022.  The patterns look quite similar, and it’s noteworthy that 1962 and 1970 were both mid-term election years for first-term Presidents, just like 2022.

In September 1962, the S&P fell 4.8%, but after that weakness, the index surged higher in Q4.  In September 1970, the S&P rallied 3.3% and continued to gain sharply in Q4 as well.  In both 1962 and 1970, the S&P was higher from the end of August through year-end.  Investors would certainly take a repeat of that this year!

Our Morning Lineup keeps readers on top of earnings data, economic news, global headlines, and market internals.  We’re biased (of course!), but we think it’s the best and most helpful pre-market report in existence!

Start a two-week trial to Bespoke Premium to read today’s full Morning Lineup.