According to the Smart Finance APP, BMO Capital Markets stated that September has become known as a weak month for the stock market, but this may not affect the S&P 500 index's consolidation of its year-round uptrend.

Trading in September began this week, and the S&P 500 index fell by 2.3% in the first two trading days, with expectations of further decline on Thursday. The decline in the stock price of heavyweight stock Nvidia (NVDA.US) and the weakness in manufacturing and labor market data have been pressures on the stock market in September.

Brian Belski, Chief Investment Strategist at BMO Capital Markets, stated in a report on Wednesday: "It should be clear that we don't like investors losing money, but at the same time, given the lack of a significant correction so far this year, we are not completely surprised by the recent weakness." "Nevertheless, we remain optimistic for the rest of this year as history has shown that such a substantial increase so far this year often leads to further gains before the end of the year."

This history includes the S&P 500 index's strong increase of 18.4% in the first eight months of this year. Belski stated that since 1990, only four years have shown stronger performance - 1991, 1995, 1997, and 2021 - and the S&P 500 index achieved further gains before the end of the year in those four years.

The strategist indeed pointed out that even in a strong market, it is common to see a correction in September and the last four months of the year.