U.S. stock investors are bracing for a potentially volatile September as the market faces key economic data reports, a Federal Reserve meeting and worries over a possible government shutdown during a month of historically muted equity performance.
In Septembers since 1945, the S&P 500 has declined an average of 0.7%, the worst performance of any month, according to CFRA.
Consumer price data due on Sep. 13 needs to walk a similar tightrope to satisfy investors. The Fed’s monetary policy meeting on Sep. 20 stands as another potential source of volatility:from Fed Chairman Jerome Powell in Jackson Hole fueled expectations of another rate increase this year, though a move in September was seen as less likely.
A government shutdown stands to directly reduce U.S. economic growth by around 0.15 percentage points for each week it lasts, analysts at Goldman Sachs wrote this week.
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