NEW YORK, Aug 27 (Reuters) – A rally in which U.S. stocks have doubled from post-pandemic lows is about to enter the year’s worst month for equities, as investors focus on a nationwide COVID-19 resurgence and how quickly the Federal Reserve plans to pull back on its easy money policies.
September has been the worst month of the year for the S&P 500 (.SPX), with the benchmark index falling an average of 0.56% since 1945, according to Sam Stovall, chief investment strategist at CFRA. The S&P has advanced only 45% of the time in September, the lowest rate of any month, CFRA’s data showed.
This time around, stocks have momentum on their side. The S&P 500 notched its 52nd record closing high of the year on Friday and has gained 20% so far in 2021, having gone 287 calendar days without a pullback of 5% or more.
That type of…