Merchants work on the floor of the New York Stock Exchange during the morning negotiation on August 22, 2025 in New York City.
Michael M. Santiago | Getty images
September in markets is a bit like a Monday morning; No one awaits him eagerly, and is generally up to his reputation.
August gave investors a lot to cheer up, but history says that September tends to be the worst month of the year for shares.
He S&P 500 He reached a new record at the end of August, surpassing 6,500, while the Dow Jones He also played new spikes. On the other side of the Atlantic, the Stoxx Europe 600 He registered his first two -month winning streak since February.
S&P 500 in August
But the September spectrum is increased. Traditionally, the Dow compound, S&P 500 and Nasdaq publish their worst month of the year in September, according to Dow Jones Data.
From the perspective of the sector, it is a mixed image, particularly in Europe. Two thirds of the road during the third quarter, driven by corporate profits throughout the continent and continuous global uncertainty, there are clear winners and losers.
The biggest winner? Banking sector of Europe. The actions reached its highest level from the financial crisis of 2008 at the beginning of August, since the positive profits and more conversations about agreements in space continued to boost growth.
Germany Trade He has led the highest position, with actions that add to his already impressive performance in the first half, more than 100% to date.
Commerzbank vs. WPP in August
On the negative side, media actions have been affected in the last two months, a decrease of more than 8%, with concerns about the impact of AI that hits several of the great European players. Advertising group WPP It was the worst performance of the sector, falling, since it reported a drop in profits before taxes of 71% in the first half and reduced its full -year perspective.
For September and next year, some market participants are positive. “We believe that the capital market of capital will remain intact. In our base case, we expect a soft economic landing, solid corporate profits and lower interest rates to support markets in the next 12 months,” said Mark Haefele, UBS Investment Director of UBS Global Wealth Management.
Others are more cautious. The head economist of Ey-Parthenon, Gregory Daco, says that the economy of the United States is “showing resilience, but is under increasing pressure. Although the economy of the United States grew at a solid annualized rate of 3.0% in the second quarter of 2025, the strength was largely in response to the previous rates in the year. ” ”
Looking towards the future, a recent Barclays report predicted a slowdown in the second half, but a rebound in the economic growth of the United States and Europe in 2026, saying that “the markets will go from reacting to the twin issues of tariffs and the tax bill of the United States.”
As market manufacturers and investors return from their summer vacations to rebalance their portfolios, there will be some key moments to take into account, which include:
Economic data:
Monday: Labor Day (closed US markets); EU unemployment
Tuesday: EU inflation; US manufacturing data.
Friday: EU GDP; Non -agricultural payrolls
Other events to see:
September 8: French vote without trust
September 11: BCE policy decision
September 16-17: Federal Reserve Policy Decision
September 17: President Trump makes a state visit to the United Kingdom
September 18: Policy Decision of the Bank of England
