Tuesday: Character-Driven Success Seminar, 8:30 a.m. to noon, Savannah Rapids Pavilion, 3300 Evans to Locks Road, Martinez; $85; (830) 624-6384; cherry@SpeakingOf Character.com
WEDNESDAY: Introduction to e-mail, 3-4 p.m., Goodwill Industries' South Augusta One Stop Career Center, 3210 Peach Orchard Road; $25; (706) 790-8500
THURSDAY: Ribbon-cutting, Superior Self-Defense and Salsa Dance Academy, 11:30 a.m. to 12:30 p.m., 4158 Washington Road, Evans; (706) 651-0018, tammy@columbiacounty chamber.com
FRIDAY: Ribbon-cutting, Pipeline Work Clothes, noon to 1 p.m., 3843 Wrightsboro Road; (706) 651-0018, firstname.lastname@example.org
ACROSS THE NATION
TODAY: Markets closed for Independence Day.
TUESDAY: The Institute for Supply Management releases its service sector index for June, 10 a.m.
THURSDAY: Retailers release revenue results for June.
ON WALL STREET
OK, you're gutsy enough to buy on dips. Now how about buying on a dive?
After a scary slump for stocks this spring, that's the question facing many investors. In the three months that ended June 30, the Standard & Poor's 500 index fell 11.9 percent, the biggest quarterly loss since the financial crisis. The fear is that economic growth will slow, or stall, and that's got even bulls wondering whether stocks could drop lower.
If you can muster the courage to buy, history suggests you might be rewarded.
According to an S&P analysis of prices going back to the Great Crash of 1929, stocks tend to climb in quarters following big declines.
"The market is like a rubber band," said S&P Chief Strategist Sam Stovall after finishing his analysis Friday. "Stretch it too far, and it's likely to snap back."
Time and again, the pattern seems to repeat: Investors get carried away selling but then come to their senses and start buying again.
Some details and lessons from Stovall's numbers:
- Good follows bad seven out of 10 times. Since Calvin Coolidge was president in the 1920s, stocks have fallen 5 percent or more in 41 quarters. But that was followed by stock rises over the next three months 29 times -- or seven out of 10 times.
- Rises anticipate recoveries. It is said the stock market looks six months or more in the future, and the S&P data bears this out. Some of the biggest rises come before economic recoveries when unemployment is still high and growth low. For example, the S&P started rising in March last year, at least three months ahead of what many people now believe was the start of the recovery.