SPDR S&P 500 ETF Trust Ranked Among This Week’s Top Buy ETFs

SPDR S&P 500 ETF Trust Ranked Among This Week’s Top Buy ETFs

August finished off in the green last week, for another positive month for markets, amid many issues including another deadly surge of Covid-19. However, we're entering the worst month of the year seasonality-wise, as September has the worst track record of any month of the year for stocks. After traders got back from their Labor Day weekend, they may have taken that cue as on Tuesday stocks were well into the red for the S&P 500 and the Dow, despite the Nasdaq treading water so far on the day. Year-to-date gains have been impressive so far, with all three major indexes well into the double digits for the year, with the Nasdaq and S&P leading the way with almost 20% gains. On Tuesday morning, though, a couple of major downgrades happened. Goldman Sachs GS downgraded US economic output to 5. 7% for 2021, below consensus at 6. 2%, something that many may follow along with. In addition, Morgan Stanley MS downgraded US stocks to underweight. Might there be a correction on the horizon? Possibly, but it will likely depend on how fiscal and monetary stimulus react. ETFs are a good idea in this environment to build up some beta exposure