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S&P: 9 cheap stocks to buy in a late-summer drop

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S&P Global's Sam Stovall told investors Monday to keep calm during any market volatility in August and September and buy stocks into any decline.

"Investors who are aware that the market traditionally stumbles during these two months are less likely to become their portfolios' worst enemies by reacting emotionally," Stovall, U.S. equity strategist at the firm, wrote in a note to clients. "Rather, we believe investors would be better off buying than bailing, and advise building a 'wish list' of stocks to own."

Stovall cited how August and September are the worst-performing months of the year since 1945 and that one-third of all 5 percent or more declines occurred during the two months. However, he sees any pullbacks as an opportunity as the rallies 5 percent on average during the fourth quarter.

"So which beaten-up stocks look attractive today (and maybe even more so, should the market suffer a setback)? Nine stocks were identified using the screening capability of S&P Global's MarketScope Advisor platform. All carry S&P Global 5-STARS rankings (Strong Buy) and are currently trading at least 30 percent below their 52-week highs," he wrote.

Here are the nine stocks Stovall recommends ...