So, I guess it's a good time to look at how the market has done before and after Labor Day.
All of this news will come just in time for the Labor Day weekend, a historically unkind time for stocks. The folks at Bespoke Investment Group, an investment research and money management firm, crunched 20-years of data and found that the Dow doesn't like the end of summer anymore than anyone else does.
On average, the Dow has lost 0.54% in the five days before Labor Day over the last 20 years, the firm found. That would equate to a decline of about 55 points on the blue-chip index this week, leaving it below 10,100. When investors return from the holiday, the results historically have been equally lackluster. In the four-day trading week following Labor Day weekend, the Dow has averaged declines of 0.04% in the past 20 years.
As the researchers at Bespoke put it, "Isn't the end of summer already depressing enough?"
See full article from DailyFinance: http://srph.it/cILNoN
And here is a longer term chart. Looks like so far, things are progressing as expected...
