It’s Been the Year of the Winning Streak for S&P 500 Companies

Improbable as it may be, 2018 has been the year of the rally.

The S&P 500 Index has been getting whipsawed throughout the year, but three members have already strung together winning streaks of 15 days — the most in a year since Bloomberg began compiling data in 2008. It’s been since 2009 that any year has had more than one such streak.

Record Rallies

Three S&P 500 Index members have had winning streaks of 15 days in 2018

Source: Bloomberg

Note: Universe is current S&P 500 members

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Fluor Corp., an engineering and construction company, started 2018 with a bang, trading up in its first 15 sessions. The stock plummeted almost 25 percent at the start of May, leaving it with a negative 3.69 percent return year-to-date through May 30.

IT consulting firm Cognizant Technology Solutions Corp. kicked off its own rally the day after Fluor’s began. Unlike Fluor, it remains positive with a 7.12 percent gain.

Verisign Inc., the seller of online domain names, saw its 15-day, 9.28 percent streak come to an end on May 22. The stock has risen almost 2 percent since then and is up 14.2 percent on the year.

The longest rally in the last decade belongs to credit-rating company Moody’s Corp. Its stock jumped 18.9 percent after closing up in 18 straight sessions during August and September of 2012.

— With assistance by Javon Thompson, Jeffrey Hernandez, and Yu Lung Law

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