Today is the midpoint for September and so far it is not as volatile as Septembers past. The Dow is up just over 1%, the S&P 500 is up 2.5% and the NASDAQ is up over 4% month-to-date.
With a late Labor Day and quieter than usual activity, average daily volume on the NYSE is running about 20% lower than it was a year ago according to data from ThomsonReuters. Since 2007, an average of 1.5 billion shares trade on the NYSE every day, a volume level we have not seen since May. In both 2007 and 2008, volume picked up in the second half of September and many analysts are expecting a similar pattern this year.