Near the Record Trifecta Again

 

On Thursday, the Dow Jones Industrial Average rallied more than 250 points, notching its first record close since January 26th, at 26,656.98.

That marked the end of a nearly eight-month correction. The S&P 500 also hit a new all-time closing high of 2,930.75.

The Nasdaq Composite index, while gaining 1% on the day, was the only one of the U.S. Big Three benchmarks not to close in record territory. But it still finished the day above 8,000, only 80 points (or 1%) below its own late August all-time closing high. (The Dow and S&P continued to advance Friday while the Nasdaq slipped a bit.)

This comes the same week President Trump ratcheted up the trade war with China and threatened to put tariffs on all $500+ billion worth of Chinese imports if progress is not made in negotiations. Right now, those talks seem to be going nowhere.

It also comes in what is statistically the worst month for stocks by far: According to Yardeni Research, the S&P 500 averages a loss of 1% in September; the only other months that are in the red are February and May, which have average losses of only 0.1%.

So, what does that mean for investors?

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