S&P 500 finished Q3 at a record level – BBH

The S&P 500 finished Q3 at a record level afer at the start of last week, the S&P 500 filled the downside gap from the higher opening on September 12, and found support in front of the 20-day moving average (~2482) and proceeded to advance in the following four sessions, explains the research team at BBH.  

Key Quotes

“It was the third week of higher closes, and five of the past six.   The S&P 500 has recorded a losing month only once this year, and it was less than a 0.1% decline in March, which itself was the first decline since last October.”  

“It was the eighth consecutive quarterly advance (almost 4%). The Russell 1000 Value Index rose 0.7% on the week for its third weekly advance. The entire Q3 gain (2.5%) was recorded by last month's 2.8% rise.  It was the sixth monthly advance this year of the Value Index.  It is up nearly 6% thus far this year.  The Russell 1000 Growth Index also gained about 0.7% last week.  It has spent September alternating between advancing and declining weeks in September and managed to finish the month with a 1.2% gain.  For the quarter it is up 5.5% to bring the year-to-date advance to a 19.4%.   It is the eighth quarterly advance.”