real-time news and commentary for investors
Friday, Aug 30
Stocks drift lower, finishing worst month since May 2012
- Stocks edged lower, extending the biggest monthly slide for the Dow and S&P 500 since May 2012, amid muted readings on consumer spending and income and the potential for U.S. military action against Syria.
- But in some of the lowest volume this year, it doesn't make sense to trust the week's moves too much: "It’s like a household when the parents are away, and teenagers are running the show."
- Treasuries were confined to a tight range, with the benchmark 10-year yield rising one basis point to 2.77%; Nymex crude lost 1.1% to $107.65.
- Now, on to September, historically the worst month of the year for stocks: The Dow has dropped in 67 of 116 Septembers in its history, suffering an average loss of 1.1% during the month.