The month of August had been a good month for the US stock market. It is because most US stocks rose. The month of August did not start good. In fact, it is a bad start. However, the stock prices twisted and became very good at the end of August. It is considered to be the best August for the S&P 500 list after 14 years.
According to Peter Cardillo, Rockwell Global Capital’s chief market economist, due to the fact that the month of August had been so much bountiful for the US market, the month of September might be a cooling period. Another possible thing that might happen is that it might have some technical pullbacks.
Some of the stocks that rose in the month of August were the stocks of Tesla Motors and University of Michigan – better known as Thomson Reuters. Tesla Motors’ rise is said to be due to the announcement of the company it would be engaged in the construction of charging stations in the country of China. It is also stated that it would work with China Unicom, a Chinese mobile carrier, to pull this project. On the other hand, the Thomson Reuters rose from 81.8 in July to 82.5 in July.