After a stellar 30% run in 2013, analysts were expecting the S&P 500 to take a much deserved break in 2014. In fact, many predicted the S&P 500 would advance just five percent in 2014. By the end of the second quarter, the S&P 500 had already climbed more than six percent.
Entering the summer, Wall Street predicted the S&P 500 would take a breather. Again, it didn’t. Between June and August, the S&P 500 notched upward by four percent. Not only that, but in late June, the S&P 500 closed above 2,000 for the first time ever. By the end of August, the S&P 500 had reported 30 record closes for the year.
What about September? It’s supposed to be the worst performing month for the stock market, but it has started out strong. Thanks to encouraging economic data and positive signs coming out of Wall Street, the S&P 500 is bucking historical trends and continues to close above the 2,000 mark.