The fourth quarter begins today and we're starting things off on a sour note. After squeezing out a minor gain in the third quarter, the S&P marked its seventh consecutive quarterly gain, but has been trending down for the last two weeks. Global growth worries are creeping into everyone's mind, and a series of less-than-stellar economic reports this week has provided a catalyst for selling.
Historically the fourth quarter is good for stocks. According to research firm See It Market, since 1950 the SPX has been positive 78% of the time in the fourth quarter for an average 4% gain. It's anyone's guess whether this year will follow suit.
Weak economic data from Europe and Asia continues to pour in. The latest is a reading from Germany showing the first decline in manufacturing activity in 15 months. Germany is the region's largest economy and generally viewed as the strongest. We'll hear from the ... Log in or subscribe to continue reading.