Days of the WeekAfter two lousy days to close out last week, US equities are staging a nice rebound with the S&P 500 up over 1% on the day.  The charts to the right break down the S&P 500’s average daily change by weekday so far this year.  As shown in the top chart to the right, Mondays have typically been negative for equities in 2015 as the S&P 500 has averaged a decline of 6 bps.  That ranks as the third worst day of the week for equities behind Tuesday and Friday.  On the upside, the only two days that have averaged gains in 2015 are Thursday (22 bps) and Wednesday (14 bps).

While today’s gain is bucking the trend of Mondays in 2015, we would note that the average is skewed by some big down days including 8/24 when the S&P 500 fell 3.94%, the worst day for US equities in 2015.  In terms of consistency, Mondays are actually one of only two days in 2015 where the S&P has been up more than half of the time.  Tuesdays, however, have not only been bad in terms of the average return for the S&P 500, but it has also been the day where positive returns are the least frequent.

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