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 free trial to Bespoke Premium. CLICK HERE to learn more and start your free trial.
No sooner than the S&P 500 saw a disheartening sell-off to close out the day on Tuesday, futures are indicating a strong open this morning which would essentially erase all of the declines from the last hour yesterday. In our just-published Chart of the Day, we looked at prior periods where the S&P 500 declined 0.75% or more in the last half hour of one day only to rally 0.75%+ in the first 15 minutes of the following day. Today’s reversal also marks the 5th time this year that we have seen this type of reversal. Check out the entire report by signing up today.
Be sure to check out today’s Morning Lineup for a rundown of the latest stock-specific news of note, earnings from some of the nation’s largest retailers, the latest global and national trends related to the COVID-19 outbreak, and much more.
Sell in May? Maybe not yet. The image below is from our interactive Seasonality tool and shows the S&P 500’s median performance over the next week, month, and three months based on historical returns over the last ten years. Historically, the S&P 500 has seen a median gain of 0.87% from the close on 5/20 through 5/27 which ranks in the 80th percentile of all one-week periods throughout the year. For the next month, the median return increases to 2.42% which ranks in the 84th percentile. While short-term returns have been solid, the S&P 500’s median return from the close on 5/20 through 8/20 has been a gain of 1.97% which ranks in just the 38th percentile. Maybe it’s better to wait until June.