The S&P 500 gained 8.9% in November for one of its best monthly returns ever. One month ago, stocks were in a correction, fear was everywhere, and talk of a new bear market and a recession were in the news. Then a funny thing happened … stocks soared!
Six months ago, most financial experts were talking about an imminent recession and the likelihood of stocks breaking the October lows. But instead, stocks had one of their best six-month starts and the economy shows no signs of slowing.
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It was bound to happen. Stocks finally lost ground last week, as the S&P 500 ended a five-week win streak and the NASDAQ fell for the first time in eight weeks. It is important to note that late June historically isn’t strong for stocks, and this weakness is not overly concerning after …
The economy continues to surprise to the upside, inflation is coming back to earth, and the Federal Reserve is likely done hiking rates. All these positive drivers have combined to allow stocks to soar this year, with the S&P 500 up more than 15% so far.
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The market’s impressive run off the October lows continued last week. The S&P 500 officially closed up more than 20% from its low set on Oct. 12. In the face of continued skepticism, stocks have progressively moved higher. Now with stocks up 20%, they have officially entered a new bull …