The S&P 500 Just Did Something It Has Only Done 10 Times Before. History Says the Stock Market Will Do This Next
The S&P 500 (SNPINDEX: ^GSPC) is up 18% in 2023, but the gains have been far from linear. Instead, the stock market has been a rollercoaster of ups and downs as investor sentiment has whipsawed in response to various signals.
The benchmark index shot higher in the first half of the year, rebounding from bear market lows amid signs of economic resilience, better-than-expected earnings, and enthusiasm surrounding artificial intelligence.
The S&P 500 then surrendered some of those gains in the second half of the year, stringing together three consecutive monthly declines in August, September, and October as recession fears resurfaced and investors came to terms with hawkish commentary from the Federal Reserve -- namely, that interest rates will likely remain elevated for longer than previously anticipated.
Source Fool.com
