The S&P 500 slipped 19.4% last year as runaway inflation, rising interest rates, and recession fears rattled Wall Street. But the benchmark index rebounded 15.9% in the first half of 2023 amid better-than-expected earnings and enthusiasm surrounding artificial intelligence. That momentum points to positive returns in the second half.

Since 1957, when returns in the first half of a year exceeded 10%, the average return for the second half was 6.8%, according to data from Carson Group. So what? The S&P 500 has traded sideways since the end of June, but if the current year falls precisely in line with the average, the index will climb another 6.8% before the end of 2023.

Of course, past performance never guarantees future returns, but now is still a good time for patient investors to buy these growth stocks.

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Source Fool.com