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Sizzling Moment For Stocks? S&P 500's Path To 5,600 'Achievable During Summer Rally,' Says Wall Street Analyst

As summer heats up, so does the stock market. The S&P 500, as tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), has an intriguing historical seasonality pattern during presidential election years. Looking back to 1928, an analysis conducted by Bank of America shows that the S&P 500 often kicks off summer with a solid performance in early June, which sets a bullish tone that tends to carry through the summer months. “A late June lull could set up an early July rally,” says Stephen Suttmeier, CFA, CMT, an analyst at Bank of America. Historical data underscores this trend: the last 10 sessions of June have shown uninspiring results, with the S&P 500 up only 48% of the time and an average return of just 0.02% (-0.19% median). This means that during the final days of June, the market’s performance has historically been lackluster, with nearly half the days seeing slight losses. But this pause can be the calm before the storm, setting the stage for the strongest 10-day period of the year in early July.  But this pause can be a prelude to a significant upswing, ...