Why The S&P 500 Is Set For A Strong Second Half: 'Don't Give Up On The Bull Market Yet,' Says Analyst
Portfolio Pulse from Piero Cingari
The S&P 500, which has risen 14.5% in the first half of 2024, is expected to continue its strong performance in the second half, according to Ryan Detrick, chief market strategist at Carson Group LLC. Historical data supports this optimism, showing that when the S&P 500 posts double-digit returns by mid-year, it tends to perform well for the rest of the year.
July 05, 2024 | 3:00 pm
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The SPDR S&P 500 ETF Trust (SPY) is likely to see continued positive performance in the second half of 2024, following a 14.5% gain in the first half. Historical data supports this trend, with the S&P 500 averaging a 7.7% return for the remainder of the year after a strong first half.
Historical data shows that when the S&P 500 posts double-digit returns by mid-year, it tends to perform well for the rest of the year. This trend is likely to benefit SPY, which tracks the S&P 500.
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