Stock market's first half gain predicts a mild recession by the holidays.
TL;DR Summary
The S&P 500 has gained over 13% in the first half of 2023, and history suggests that the median return for the second half is 8% with an 82% win ratio, according to Fundstrat Global Advisors. The recovery of the US stock market this year has been led by megacap technology stocks, and the rapid recovery of technology stocks is evident. Fundstrat's founder, Thomas Lee, expects a broadening of the market could push the S&P 500 to soar more than 20% for the year to end at 4,750.
Topics:business#finance#fundstrat-global-advisors#megacap-tech-stocks#sandp-500#second-half-of-2023#stock-market
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