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S&P 500 FACES TYPICAL SEPTEMBER PULLBACK DESPITE STRONG SUMMER - BOFA

Historical data suggests the third quarter is often a challenging period for the benchmark S&P 500 .SPX, as gains in July and August are frequently offset by losses in September, according to Bank of America Global Research.

Despite the late-summer weakness, the index has typically ended the quarter higher, based on data from 1928 to 2016, even as it tends to pull back in September.

Seasonal patterns are further complicated by the U.S. presidential cycle, with the S&P 500 tending to underperform in the third quarter of the second year of the president's term.

"Under all scenarios, the median trend was strong, with a September dip,” BofA said.

(Chibuike Oguh)

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