The S&P 500 has averaged a daily change of -0.35% so far in 2020, which is a horrific number. Keep in mind too, that up until late February, the market was still up YTD, so these negative numbers a primarily a result of the last six weeks! For some perspective, if the S&P were to continue averaging a daily decline of 0.35% for the remainder of the year, the index would be at 1,335.3 on the last day of 2020 for a YTD decline of 58.7%. That would represent at 45% drop from the S&P’s current level of 2,448.
Below is a look at the average daily performance of the S&P 500 by weekday so far in 2020. Mondays have been by far the worst with an average decline of 1.54%. Wednesday, Thursday, and Friday have all seen similar returns with average declines around the -0.50% level. Tuesdays have been the lone bright spot during the week with an average gain of 1.12%. Thank goodness for Turnaround Tuesday! Start a two-week free trial to one of Bespoke’s three premium memberships to see our best and most actionable market analysis.