Wall Street is set to wrap up a strong month next week as stocks gun for new highs heading into year end.
The Nasdaq Composite is on pace to close out the month with a double-digit advance, up 10%.
In contrast to September and October, which are typically weak periods for stocks, the seasonal patterns are now in favor of equities.
This week, LPL Financial's Adam Turnquist pointed out that more than half, or 55%, of S & P 500 stocks closed above their 200-day moving average.
It's set to show a rise of 0.2%, down from the 0.7% rise in the prior month, according to FactSet consensus estimates.
Persons:
Stephen Suttmeier, Sam Stovall, That's, CFRA's Stovall, What's, LPL, Adam Turnquist, Turnquist, Wolfe, Rob Ginsberg, Ginsberg, Morningstar's Dave Sekera, Sekera, Morningstar's Sekera, Salesforce, Gartner
Organizations:
Nasdaq, Bank, Treasury, Costco Wholesale, Kroger, New, Dallas Fed, Richmond Fed, Hewlett Packard Enterprise, NetApp, Intuit, PCE Deflator, Chicago PMI, PMI, Manufacturing, Dominion Energy, Cboe, Cardinal Health
Locations:
Chicago