We've heard some commentary today noting that the first Friday of September has typically been a rough day for the market. We went back and looked at the Dow's performance on all of the first Fridays of September since 1900 to see what the numbers actually look like. Below is a list of all of them.
As shown, the average change for the Dow on all 109 days since 1900 has been +0.22%. This is pretty positive considering the average change for all days since 1900 has been about +0.03%. The median change is strong as well at +0.21%. The worst first Friday of September came in 2001 when the Dow declined 2.39%. The best first Friday of September came in 1932 when the index climbed 4.21%. Over the last 10 years, the index has been up 5 times and down 5 times on these days, and the index was up 1.03% on the first Friday of September last year. So really, the first Fridays of September haven't been that bad at all.
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