Investors are hoping for a less-spooky October after some ugly September losses.
The road ahead for stocks in 2020 is still uncertain, but we could end up seeing a rebound this month. September was the first losing month for Wall Street since a recovery rally in late march. KTRH moneyman Pat Shinn (with Heritage Asset Advisors Ltd., LLP) says the sell-offs were not a surprise, and no reason for investors to panic.
“Remember pullbacks are healthy. Picture two steps ahead and one step back. That’s what the markets like in terms of a healthy market. So it’s done nothing but go up since March 23rd. A pullback was in order. We finally got it,” Shinn said.
Investors are still holding out Congress will pass a new round of stimulus. Some stock market analysts note historically a terrible September has often been followed by the major indexes outperforming in October.