Vacation Is Over and Stocks Keep Playing Havoc With Predictions
- S&P 500 calmest August in 50 years defies Wall Street warnings
- Strategists rushing to raise forecasts as equities rally on
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OK, Wall Street, back to work. The stock market crash you feared while guiltily snoozing through August on the beach may not have materialized but there are a few things you need to know about.
First the good news. While firms from Goldman Sachs to Voya Asset Management warned everyone in July about the risk of late-summer turbulence and shrinking liquidity, peace has prevailed in the U.S. In fact, with the S&P 500 never swinging more than 0.8 percent on any given day, it was by some measures the calmest August since 1967.