economy
The S&P 500 is trying to end its terrible Thursday streak
The broad market index has ended the last nine Thursdays in the red. Number 10 would be the worst streak ever in the benchmark's history.
TL;DR
- The S&P 500 has ended the last nine Thursdays in the red, potentially setting a record for the longest streak.
- Market behavior has followed a pattern of early-week gains and late-week declines since the Iran war began.
- Initial market declines on Thursday were due to disappointment over President Trump's lack of a clear path to end the war.
- Stocks recovered some losses following a report about Iran and Oman drafting a plan to monitor traffic in the Strait of Hormuz.
- Data shows the S&P 500 has averaged a 0.28% decline on Thursdays this year.
- The weekly pattern suggests investors are hesitant to take on risk before the weekend due to geopolitical uncertainty.
- This pattern is expected to continue in the short term as long as there is a significant U.S. military presence and tensions with Iran persist.