June Can Be A Rough Month For Stocks, Tech And Communication Services Remain Strong
Portfolio Pulse from Cory Mitchell
Historically, June has been a challenging month for stocks, with the S&P 500 dropping an average of -0.3%. However, technology and communication services sectors have remained strong. July is often a better month for stocks.
June 02, 2023 | 2:09 pm
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NEGATIVE IMPACT
The Invesco QQQ Trust Series (QQQ) may face a challenging June, as the Nasdaq 100 index has historically lost -0.2% during this month. However, the tech sector remains strong.
The article states that the Nasdaq 100 index has lost an average of -0.2% in June over the last 20 years. Since QQQ tracks the Nasdaq 100, it is likely to experience a similar drop. However, the tech sector remains strong, which may mitigate the impact.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
The SPDR S&P 500 Trust (SPY) may experience a challenging June, as the S&P 500 has historically dropped an average of -0.3% during this month.
The article states that the S&P 500 has dropped an average of -0.3% in June over the last 20 years. Since SPY tracks the S&P 500, it is likely to experience a similar drop.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80