Market Glimmer? Why This Analyst Foresees Year-End S&P 500 Rally Despite Economic, Geopolitical Headwinds
Portfolio Pulse from Shanthi Rexaline
Despite economic and geopolitical challenges, historical trends suggest a potential year-end rally for the S&P 500 Index, according to data from FundStrat. The data shows that the S&P 500 posted an average gain of 3.6% between Oct. 17 and year-end in years when the index gained more than 1.4% in the first five days and showed negative performance for the previous year. The SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the performance of the S&P 500 Index, ended Tuesday’s session down 0.22% at $435.04.
October 18, 2023 | 7:06 am
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The SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the performance of the S&P 500 Index, could potentially benefit from a year-end rally, based on historical trends. However, it ended Tuesday’s session down 0.22% at $435.04.
The potential year-end rally for the S&P 500 Index, as suggested by historical trends, could positively impact the SPDR S&P 500 ETF Trust (NYSE:SPY) as it tracks the performance of the S&P 500 Index. However, the ETF ended Tuesday’s session down, indicating a potential short-term downward trend.
CONFIDENCE 75
IMPORTANCE 80
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