Heat Wave: Here's How The S&P Has Performed Every July Since The Financial Crisis
Anyone familiar with the Wall Street adage “sell in May and go away” knows the summer months aren’t typically the best time of year to own stocks. However, since the Financial Crisis, July has certainly been an exception to the rule.
The S&P 500 has logged gains in five of the seven Julys since 2009, including July gains of 7.4 percent in 2009 and 6.9 percent in 2010. Three of the last four Julys have ushered in gains for the S&P 500, including last year when the market gained 2.0 percent on the month.
Overall, the S&P 500 has averaged a 2.7 percent gain in July since 2009.
July 2016 has gotten off to a bumpy start, with the S&P 500 down more than 17 points in early Tuesday trading.
According to data from CXO Advisory Group, the Financial Select Sector SPDR Fund (NYSE: XLF) has historically been the top-performing sector ETF during the month of July. The Consumer Staples Select Sect. SPDR (ETF) (NYSE: XLP) and the Materials Select Sector SPDR (NYSE: XLB) are other top July performers.
The Energy Select Sector SPDR (ETF) (NYSE: XLE) has historically been the worst-performing sector ETF in July, while the Utilities SPDR (ETF) (NYSE: XLU) and the Technology SPDR (ETF) (NYSE: XLK) are also typically weak in July.
Disclosure: The author holds no position in the stocks mentioned.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.