14 Monthly Gains in 17 Months

The stock market wrapped up another solid month last month. The S&P 500 gained 2.90% in August and 3.03% with dividends. This was our seventh monthly gain in a row and the 14th of the last 17 months. The last three monthly gains all had 2% handles.

This morning’s ISM manufacturing index showed a slight increase to 59.9 from the reading for July of 59.5. The employment index was at 49.0. That’s down from 52.9 in July.

The ADP payroll report showed a gain of 374,000 jobs last month. That was well below expectations of 638,000. The government will release the official numbers on Friday morning.

Posted by on September 1st, 2021 at 10:31 am


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