More than a few bottles of champagne were likely cracked on Wall Street as results for the first half of 2023 rolled in. In the first six months of this year, the S&P 500 logged a total return of more than 16%.
"Really good first halves like the one we just had tends to lead to outsize performance for the second half of the year," says Ryan Detrick, chief market strategist at the Carson Group. But historical performance is another positive data point in what has been a year of mixed signals for investors, he says.
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