Market Recap: Another positive month. S&P 500 +19.5% in 2024, +2.4% in August
August Recap: Yes, Stocks Are Up Again. Shows It Can Pay to Stay Invested.
Though the stock market is up about nearly 20% for the year, it declined during the first few days of September and “gave back” about 1%. Some investors might worry, while others might say “So what?” Here’s some perspective. Over the past 5 years, the S&P 500 Index was up over 109%. Several times over this period, the market declined, 2%, 5% and even more than 10% but ultimately generated 109% for the 5 years ending 8/31/2024. You can read our recent blog for a simple reason to keep calm and carry on investing, Why Buying Stocks After a Market Drop can be a Smart Move .
Now the August recap… Stocks finished August up 2.4% despite a few days of big moves down and back up (aka volatility), again showing that it can pay to stay invested. Investors who stayed invested, despite various stock price swings, have done well with the S&P 500 up +19.5% YTD, as well as +27.0% over the last 12 months, and +15.9% annualized for the 5 years ending 8/31/24. ?Another reminder that sticking to game plan that includes investing early, investing often and staying invested is one of the best ways to build wealth during your lifetime. Want to find an easy way to invest more? Watch this for money saving tips from Kevin O’Leary. ?
You may be interested in learning how to reduce risk when investing. Diversification is an important strategy used to reduce risk. This common expression really makes sense: “Don’t put all your eggs in one basket”. ?We include dividend growth stocks in most “Wealth Builder” portfolios for Beanstox Plus clients, to help reduce portfolio risk and provide a source of growing income. History shows that dividend growth stocks can perform better than the overall stock market during downturns, and this can help build wealth over the long-term.
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Market Performance:
The S&P 500 Index is up 19.5% year-to-date, with a 2.4% gain in August.
Interested in seeing sector performance breakdown and some additional headlines making news last month?
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