Stocks were slightly lower Monday, but they could bounce back for a fairly decent gain over the next two weeks if the market follows a common post tax-day move.
Stocks were slightly lower Monday, but they could bounce back for a fairly decent gain over the next two weeks if the market follows a common post tax-day move.
The S&P 500 over the past 20 years has averaged a near 1 percent gain in the week following the federal tax filing deadline and has been higher 75% of the time, according to Bespoke Investment Group. By the second week after April 15, the S&P has been up 1.5% and was higher 75% of the time.
The positive pattern did not work out after tax day in 2018, when the S&P lost 2.9 percent in the week after April 15, its worst one week post-tax day return since 1990.
