October Weakness Might Provide Buying Opportunity [Forbes]
The Bank of New York Mellon Corporation (BK)
Last the bank of new york mellon corporation earnings: 4/16 06:30 am
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Source: Forbes
Normally, the stocks have their best performance in the November to April period. In fact, looking back, in the period from 1970 to present, the stock market averaged an above 4% return in the fourth quarter of the year. However, 2024 is an election year, and while still positive, the returns in election years have been muted with the S&P 500 returning 2% as shown in Figure 1. This is greatly below a typical year where returns average over 4% in the fourth quarter. Figure 1: Index Averages in Q4 of Election Year William O'Neil + Co. Within the fourth quarter, October tends to be the problem month with a negative return for all three of the major indexes. Typically, this is followed by a recovery in November and December once the election passes. As a whole, the Nasdaq has a tendency to lag the S&P 500 and DJIA in the fourth quarter of election years. This is shown below in Figure 2. Figure 2: Monthly Index Averages in Q4 of Election Year William O'Neil + Co. Looking at eac
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BK
Earnings
- 7/12/24 - Beat
BK
Sec Filings
- 9/19/24 - Form NPORT-P
- 9/19/24 - Form NPORT-P
- 9/19/24 - Form NPORT-P
- BK's page on the SEC website