First of the Month

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
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From Ticker Sense

On Tuesday, we noted that the last day of the month has not typically produced market gains.  Granted, yesterday was no normal day since so much was going on, but the market bucked the trend and went higher. 

During the current bull market, the S&P 500 has been up an average of 43 bps on the first day of the month, going higher on 35 of 51 occasions.  The last four months, however, have all seen declines, for an average loss of 37 bps.

Below we look at how the S&P 500 has performed on the first day of the month following a last day of the month change of more than 20 bps.  As shown, the Index has still averaged positive returns, but at 15 bps, it is lower than the overall average of 43 bps.

Last

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Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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