Continuing to touch on August...
The S&P 500 posted its worst August performance in seven years, deepening its correction from its Jan 3 peak to -16.68%.
The Dow Jones Industrial Average fell 1,334 points in August (-3.72%), widening its year-to-date (YTD) loss to 12.01%.
Among the three main U.S. equity indices, the Nasdaq Composite fell the most in August, off 4.53%. The Nasdaq remains in a bear market down 24.07% YTD and is 25.95% below its Nov 19, 2021 record high. U.S. WTI oil futures ended lower a third month, down 9.2% in August, for its longest losing streak in two years. Part of the decline is due to sales of around 130 million barrels from the U.S. Strategic Petroleum Research.
The SPR is now at its lowest level since 1984.
This report is created by Cetera Investment Management LLC. For more insights and information from the team, follow @CeteraIM on Twitter.