Goldman Sachs listed eight key events likely to weigh on the market still yet to come for 2016. The list comes on the heels of the S&P 500 witnessing 4.10 percent gain up to September 9 while the SPDR S&P 500 ETF Trust SPY advanced 4.64 percent in the same period.
The brokerage indicated that the broader index has witnessed range-bound trading before Election Day — based on the trends from 2012, 2004, 2000, 1996 and before — and is likely to see similar patterns this year.
As such, the following eight events will provide catalysts for the market:
- September 20–21: FOMC Meeting.
- September 26: First Presidential Debate.
- October 4: Vice Presidential Debate.
- October 9: Second Presidential Debate.
- October 19: Third Presidential Debate.
- November 1–2: FOMC Meeting.
- November 8: U.S. Presidential Election.
- December 13–14: FOMC Meeting.
At time of publication, SPY was up 0.3 percent at $213.95.
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