Stocks’ Best August in 34 Years Was Big One for Market Castoffs
- Month’s best performers include airlines, cruise ships, hotels
- S&P 500 rises for 5th month, longest streak since Sept. 2018
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Think the only thing that went up in August was tech behemoths and Covid-19 winners? Check the leader board.
While a Bloomberg basket of stocks that benefit most from stay-at-home strictures gained about 9%, so-called reopening stocks surged 16%. Of the 10 best performing companies in the S&P 500 in August, four of them were airline, cruise ship, or casino operators -- each up more than 23%.